Had a look over the weekend. Burgo seems to be doing a good job...

Had a look over the weekend. Burgo seems to be doing a good job - namely 'right-sizing' the business. He calls it "OneQuickstep" - however much of it seems like common sense and Business 101 to me. Not being critical of him - far from it - was high time that someone took the reins and tried to get QHL's costs under control and focus on where / how they want to grow. In hindsight, I am quite critical of the previous management - they let the Co. bleed cash for too long and QHL appeared somewhat rudderless. But it's always easy with hindsight....

So QHL should gradually turn-around (will take years), assuming they stay afloat. I hope Burgo sticks with us - he seems like the right man for the job. Certainly I have more confidence in him and QHL's path forwards now, than I have had for a while.

I am worried after looking at the finances though - Burgo's improving things, but this will take time and where will we get the $ from, until we're profitable? Dorrigo loan interest is >12%, which is very steep - but we obviously needed it and likely didn't have any better options. Even the 2021 Bank loans are at almost 8%. I'm guessing Capital Raise is the most likely scenario, which will pressure share price even more.....

I contemplated buying some more QHL now - still on the fence. My av. PPS is just under 20 cents - if I took another bite now, that'd lower my av. PPS to ~15 cents. If I had no cash flow concerns with QHL, I would buy now - best time to buy a stock with LT potential, is when everybody's tired of it. And I do think that QHL are finally on the right track - next 1/2 yearly report should show ongoing improvements - but like I said above, it'll take years. However given that I do have cash flow concerns, I think I'll wait it out for a few months and see how QHL are going to get the $.

GLTA