Cash = A$205mil as 30 Sept
Debt = A $302mil as per annual report.
Net Cash Position in negative A$97mil
Earnings per share is now in the negative region
Dividend payment will be the next cost reduction, they need to preserve cash, so the dividend needs to be scrapped.
No one wants to be in the iron ore space.
BHP / RIO and to a lesser degree FMG, are ramping up supply so as to wiped junior competitors.
AGO Price at posting:
28.7¢ Sentiment: None Disclosure: Not Held
