Yes from a conservative perspective your comments are warranted, however lets just go back 12 months and see the sheet these guys were in and look at where they stand today !!!
All they need is a net debt position by 31 March quarter and then the oppies to reach strike price; hundreds of millions pouring into bank; mine developments; cash cow days ahead with no debt and the possibility still of an expansion / diversification (call it what you like) into Lithium and mark my words; dividends; and BOOM BOOM !!!!!!
Don't forget the announcement also highlights that in the December quarter they paid interest and royalty payments to the WA Government, so they made a lot more than just the $54 million dollar debt repayment ... Big things in the pipeline for yet another Australian miner company turnaround defying all the odds stacked against it 12 months ago (no pun intended with the AGO) ... hehe
The new MD is starting early as he is aware that this is ready to POP boys and girls so hang onto your hats in 2017!!!
GLTAH as you will not be disappointed .....
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