Dear Santa, page-9

Spaceman,

I can’t fault your maths or your logic.
I came up with a similar valuation.

I believe there is very little downside risk and plenty of upside.

And always the possibility of one of the big players taking them over.
With the big boys established distribution/marketing and access to taps in pubs they would
make a very neat and profitable instant “bolt on” acquisition and would very quickly need to ramp up
to 17.4 million litres production.
I’d be most surprised if the majors are not running the figures.

Cheers!