They had a working capital of $(26.0)m at Dec 23. If the want to get to $20.0m, they'll need to retain $46.0m (which is similar to their tax liability of $48.4m). If we take the high NPAT estimate of $63.0m, that is 9 months (Sep 24) to pay off.
If they manage to sell SA or coal prices moon, may be quicker than 9 months. Otherwise I expect they resume dividend payments from early 2025.
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