RE:RE:Love the markets like this ...Re: operations... in the first nine months of 2022, we had $48M of operational cash flow before working capital adjustments. If you exclude the $6M settlement, that's $42M of operational cash flow in nine months. (Working capital should have reached its "normal" level at the end of 2022.)
There will still be increases in working capital in Q4/22 though. But we may be at around $50M of operational cash flow before working capital adjustments for 2022. At least I hope so. With any meaningful growth in 2023, the operations will already be generating plenty of cash relative to the valuation, in my opinion.
On top of that, we have a very strong balance sheet, and that's a significant factor. Around $280M of net cash, marketable securities and financial instruments (in Q3/22). That's a very different position compared to the companies levered up to the hilt.
With that (and, again, operations that generate plenty of additional cash), we should be well-positioned to take an advantage of any opportunities out there. Hopefully we'll find them sooner rather than later. :)