Ann: Nanotron and Protran sign volume supply agreement, page-41

@Lefevre at 10M US in rev (approx 14M Aus) at a multiple of x10 rev come end of 'FY19, this should be trading at circa 40c come June 30 or thereabouts (theoretically).

Am I missing something here? You could even argue x15 rev but x 10 more realistic given current macros.

Se1 is one of my faves, 3 brilliant verticals in high growth sectors and Ralph, since taking over the sinking ship $$ wise, is doing a sterling job.

Thorney aint on board to watch his capital sit idle. His company support and non-flipping will go a long way.