Ann: Quickstep sales up 14% in 2018FY - positive EBIT in H2, page-85

Technically there’s a lack of buyers (last I looked) north of the current support (0.085-0.086) and a lack of volume since the announcements. The overall market is also down, so with a higher risk company like QHL without some follow up news, the price will recede. There also would have been some longer term shareholders who saw the recent price rises as an opportunity to exit.

Fundamentally, while things are improving and will by all accounts continue too, they are still losing money. We need a higher cashflow to revenue ratio or the ability to convert more of their current revenue into net cashflow. Cash is king. One Quickstep and productivity/capacity improvements should help to address this moving forward, new contracts using Qure will also help. Remember also they are a highly skilled work force and renumerated accordingly, so that’s a big part of their operating costs. They also have a level of expensive debt to maintain and manage, which they’re doing mind you, but all of these costs require cash and or debt to sustain the company.
So you could be right and the company is worth 90cents, one day, but certainly not yet with the company losing money. I’m a big fan of the company and it’s prospects, even more so now after MB’s changes, but let’s keep everything in perspective and just accept that the market is eventually always right, regardless of what we think.
Cheers..