Something wrong with this stock, page-10

On the money in the bank, I believe they are net cash zero.
$100m in bank however they inherited $100m debt from Atlantic.

They are certainly the unloved stock among the Aussie mid range miners. Even RRL have been stronger despite selling over 400k oz in hedging circa $1550 AUD. That is a big chunk of earnings lost.
My opinion is that the raising was badly managed and received, especially due to the timing of the production downgrade (I do believe this was a one off due to testing out the alternate to Gwalia trucking theory).

On top a lot of banks and investors are of the opinion SBM paid up for Atlantic.
However this was one blemish on a very strong track record for the MD, Acquisition was at a time of lower gold prices and they have a strong growth option here now. As some of the updates on Atlantic, Simberi etc come through then I think confidence on the stock will return and we will see a re-rating.