Ann: June 2024 Quarterly Report, page-39

I assume it's a bit of a non-issue for two reasons.

1. On the call they said the contingent payments werent due until the anniversery date of deal close. In effect they have this extra cash for nearly a whole year. Less as they go on throughought the year. This allows to pay down the line of credit through the year and redraw once payment is due.

2. On the call they also said they expected the cash from the sell down before Christmas, so again the whole debt thing becomes a bit redundant. One could argue that's risky capital management, but based on point 1 it's really already risk managed.

The way the deal was structured with BHP allows them a fair bit of balance sheet flexibility. They have effectively run their position down to next to $0 in cash but used their operational cashflow to supplement themselves for up to a full year.