The on screen sell side looks sick. I realise it’s only a small...

The on screen sell side looks sick. I realise it’s only a small part of the story but it’s telling nonetheless.

The recent raise was executed very poorly in hindsight. Most things Bells touch at the moment seem to go bad from what I’ve observed although they aren’t solely to blame.

The good news is the fundamentals are better than ever so there are some great buying opportunities for existing and new investors....need to check under the sofa for some spare $. Don’t forget JB and CT are committed for another $3m at $0.22 (subject to shareholder approval).

CLB did US$4m in sales in Q1 (more than 1H CY20’s total). $5m would be a decent effort IMO for this quarter while $6m would be fantastic but is probably a stretch. Anything less than $5m and I’ll be disappointed. At $US5m for the quarter we would be on a US$18m / AU$24m pa sales run rate heading into the slower Q3....as I said starting to look very cheap if you look forward 12-18 months.

gltah