Yes, it probably can do those things, Early. I do wonder why...

Yes, it probably can do those things, Early. I do wonder why they don;t raise capital, though- they have provided assurances that the banks don't require a capital raise- they did that fairly recently- things may have changed.

They have liabilities of about $56m. They raised capital last year- <$20m in April/May, presumably to integrate their purchase of White King. They do have loads of debt, but they have very few shares currently- 191.6m. Adding a few more, plus getting some breathing space, surely wouldn't hurt.

They are the only Aussie manufacturer of the goods they make- I guess they could go offshore to save cash, but it would cost Aussie jobs, and make the company less "iconic", if you will.

I question the idea of selling up assets- unless they are just hopeless and will be loss-making forever more. It seems the company is also thinking about selling its land and then renting it back. It's PANIC STATIONS at Symex!

One large capital raising could resolve so much, imo. More money = less asset sales. Surely a healthier model. I see their sales are rising, so that's good- maybe the deep retail cycle is changing. Not sure if they have an online strategy (can't see it at the Pental site). If they're relying only on supply to supermarkets, we know how fickle they are.

I like Symex. They had some buying support after the crash- Orbis bought up, so clearly saw value here. You're probably right, Early- this will be a good buy at some point.