I’m so annoyed I didn’t take a starter position when I began looking at it!

The wrinkle I couldn’t get comfortable with at the ~$6 sp at that time was the headcount and other opex increases. It seems like those increases are roughly in line with revenue and possibly that will decrease where you get efficiencies from sharing geographically close units, but how and when and to what extent that will happen seems like a stab in the dark.

I wonder how much of the sp increase is an attempt to find the next Audinate (ie. ex-CSIRO).

Dirk does touch on this in the meeting with @Strawman. He mentioned other commodities and the possibility of using photon assay in experimental ways but I got the feeling that would be quite down the track with plenty of blue sky purely in gold.

Maybe the strawuniverse can do a company deep dive on this one because I watched that video and thought “this seems too good to be true”

Went back to my notes of the Oct 2023 Dirk meeting on the topic of R&D and adjacents. This approach makes sense to me as they need to be laser focused on deploying as many and as quickly units as they can. Each unit deployed further embeds the technology in the industry and is a step increase in the company's economics.

R&D IMPROVEMENTS

• Do not need to grow the TAM at the moment as it will take ~30 years to work through the TAM at 18 units per year - within the TAM how do you upsell, cross-sell, increase profitability
• Focus is on iterative improvements to ensure that the PA technology remains the absolute best in what C79 does ie. analysing gold
• Then looking at adjacent's, analysing other elements in and around the analysis of gold - currently can analyse copper, silver and moisture (for quick turnaround of process control samples), looking at other elements that co-present geologically that could benefit the customer

Discl: Held IRL and on SM

Up again today…. It just keeps tearing higher.

I have been waiting for any pullback following the cap raise, noting that investors in that are sitting on around 35% profit already.

But as I watch it go higher am I just losing margin on what seems like a great investment hoping on a price opportunity that will never exist. Oh to be an investor

If you believe in the long term prospects it’s probably best to get on board. I’m going to try to value it and decide whether to take a starting position.

On alert for this