doh, page-13

Cashman, I am not so sure trading insolvent is a valid reason that cap raising was required when they did a write down os assets. Those write downs does not have a material impact on the cash flow of the company which remains +ve.

My guess is find a good opportunity in the rallying POG to raise some buffer and retire debt just incase Mt Monger goes negative on cash flow then the company will not have any comfort of time to re-finance etc. I presume the over draft were underwritten by banks which then would probably break some covenant with the write down. Question is with $30m NPAT, why do they need additional working capital?