I jumped on the ASX Small Cap Wrap with Claude Walker earlier this week to chat a few stocks, one of which was XRG.

@Tom73 has covered this one excellently here on Strawman and CEO Wayne Jones presented well a few months ago to the group (though may be worth getting him back post the Texas Department of Safety contract @Strawman).

Given the working capital model they need to keep winning contracts but the recent history on that front has been strong and with the Texas Department of Safety and US Department of Defence kicking in I expect 1H26 should be quite strong.

https://youtu.be/SF_fu_9pFcc?si=StEATk7pGqrfC4TD (XRG conversation starts at 14:30)