The Harmoney investor day https://www.nzx.com/announcements/383470 made for good reading I thought.

With an avg loan book of AU$481m producing break even cash EBITDA they forecast a AU$1B book will generate AU$45m cash EBITDA.

Currently has a market cap of AU$186M.

Its all down to Aussie. They need to pump the numbers over the next few qrts to put a rocket under this SP.

See not much downside from here but lots of upside