Out of curiousity - where does the website draw it's 20 times...

Out of curiousity - where does the website draw it's 20 times valuation from? I mean the cash backing is one thing, but they would have to put a figure of valuation on earnings potential? But the issue is the order book apart from the recent construction of the luxury properties was pretty much empty from what I understand? So it wasn't so much trying to clarify what a few projects might bring in, but really finding projects/revenue to begin with? Just wondering as these websites can sometimes have outdated metrics based off old financials?

I'd have to go back to 2013 to see your comparison, but prior revenue was well over 100 million before the recent one or two year scale down from what I could see, so unless it came off a very low base in 2013? The main worry is cash backing was near market cap previously - but the last report out painted a bleaker pictures for earnings and operating cash flow. My biggest worry is it hitting a cash deficit going forward as all the legacy work has now perhaps dried up. Savings grace may be the construction projects may see invoices and revenue being paid already, with further work to come?

I think the telling sign will come in october when the half year report comes out via the annual report. Very curious to see how they've done. if they maintain a positive operating cashflow and cash backing doesn't get eaten away then there is a highly compelling story to sticking with the current price, as any uptick in work is an immediate leverage up in the earnings profile and share price.

Would love to see a share price higher than 10c, but i think it will take some time for an uptick in jobs and the mining sector. Hopefully green shoots in the next yr or so.