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Hi All,

IKE_Report_Apr25.pdf

A report on one of our comparatives, IKE, came across my desk this am. [Hopefully the link above works]. It's done quite well over the past 6 months given its low 20% CAGR profile and this report reminds me that we'll very soon be getting 3DP's March 4C and hopefully recasting our valuations.

My last quarterly notes suggested looking for 3Q Receipts of $4-5m, Costs a bit higher (low $3m) for a +CF of about $1m. This would be reasonably positive but would require more, in my opinion, to really leap up.

Hope I'm conservatively wrong!

Closest to the pin, please.

Cheers