Operating cash flow was $5.3m for the half year. On top of that they spent another $10m on capital expenditure. Not "stay in business capex" but "growth capex". The majority of which is purchasing drill rigs. Drill rigs that earn a 23% net profit margin .
If you read the commentary in ther half year report you will notice that the debt balance is tracking exactly where they budgeted.
Furthermore, it is stated that 2013 will include a progressive reduction in debt together with a move to begin the payment of dividends.
HDX Price at posting:
37.0¢ Sentiment: LT Buy Disclosure: Held
