Do they even need a loan/debt facility to expand more aggressively into NSW? As per the last 4C they have $4mil in available funds (including undrawn portion of directors loan). With Qld operations likely cash neutral and heading toward profitability they could easily afford to set up a satellite NSW office and hire further sales staff. Even if they spent a $mil on this they would still have plenty of spare change to spend on conversions.
LPE Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held