Pinned straw:
Hard to gauge which way this may go @GazD as the two new CEO's Karen and Amrita have had several weeks to review the business for themselves this would be the time to flush out any bad news but i also suspect it may a great opportunity to set the platform for the pathway forward and possibly positive news on REST Assure.
In context the SP has been battered down from around $1 in past year to 38.5c or 62.5% down.
MC is 42m for a business growing at 13% (admittedly currency tailwinds in the Dec half 2023 added several % points). Karen and Amrita re-affirmed the aim is to achieve 3m EBITDA in FY 2024 but this may change.
SOM 28th Feb 24 Half Year .pdf
SOM Feb 28th 24 Solid-start-in-1H-as-core-business-revenues-increase-13.pdf
If this is on track or ahead of schedule a major rerate may be on the cards.
I am leaning to this being positive announcement as the product has real purpose ( i can personally attest to this) and in terms of the share market response based on recent higher volumes and current valuation of the business also feel upside may emerge (65% probability / confidence)
This announcement is key for the joint CEO structure the board have put in place of Karen and Amrita in terms of their credibility and evidence it have work and extract the value the business has been longing for.
Will be watching with interest.
Disc: HL on SM and IRL