Well lets look at that - Matt 1. There is no need to refinance...

Well lets look at that - Matt

1. There is no need to refinance before 2023

2. Volume production starts in 2020

3. The tax advantages of MIS are still available - high net worth Australians on high incomes have a tax rate that looks like being near 50%

4. The traditional market for the product is still there and the alternative has suffered from over harvesting.

5. The pharma market is developing with multiple products in Phase 2 and one entering Phase 3.

6. The issues raised by Glaucoma and the AFR relate to management failures not the business model - change the bosses has worked for other Coy's in the past.

7. The employment of large numbers of local staff has meant that the WA, NT and QLD govts will be loath to see the collapse of the business.

8. Whilst they have lost two contracts they have others still in place based upon the Aust sandalwood product.

Anyway that's why I am optimistic - it is so similar to Whitehaven it is eerie.

IMO and DYOR