Hotty,
Good question regarding the source of future feedstock (once the landfill has been reprocessed). My view is that Geelong will have 5 years or so of elevated profitability of around $8 mil ebitda. It will then revert to a lower level or profitability of approx $2.5 mil EBITDA.
Hence why I would never ascribe a high multiple to Geelong's operation.
what’s the secret of a great marriage?, page-9
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