Saying the build in cash (from ~$40m to ~$140m) is to do with solid performance from operations I think will prove to be misleading. CR of $42.5m plus the sale of investments of around $60m ($20m MGV, $3m G1A, $37m RNC) tells me their operations effectively made no cash. To be determined with further detail.
Ann: Westgold Trading Update, page-6
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