Woah, federal election finally called! New management coming? Time to panic or will it be ahhhhhht?

This is how I have been thinking about Lark.

The business is still producing award winning product, has a solid and growing asset base, growing revenues, and valuations at below NTA.

On the product, they seem to take medals in pretty much everywhere. This is highly important for product sales in the premium whisky market and linked to the ability to charge the premiums they can.

The Feb acquisition, funded via a $5 capital raise of Shene Estate and the Pontville Distillery added 130KL production, with 480KL of product being matured. For any producer, and Lark is no exception, it takes years to mature the whisky so there is an obvious delay between production and revenue. The acquisition was beneficial in both production and maturation. 

Production has been increased by about 50% and product under maturation by around 25%. The product under maturation has also been balanced with a third becoming available for sale in FY22 and FY23. This should allow the continuation in the upward trajectory of revenue increases.

Unlike Albo, assuming it will be Albo, who apparently is completely unknown, McBain is a known entity. And like a PM the CEO does not run the business alone, indeed in this case the critical team member is Bill Lark and his ability to continue to produce award winning whisky.