Ann: COVID 19 update, page-2

This company has a culture of being able to get medium-term debt and then drawing heavily on it even if they don't immediately need it. So they decide to max out their syndicated debt to hold over $300m of cash. In a season where companies are now being discouraged actively by banks to draw down on their revolver debt, I am pretty impressed that St Barbara's management can go against the tide.

Are they drawing down this cash to hunt for bargains? Methinks they aren't just standing there holding cash and paying interest on it while twiddling their thumbs.

Would be interesting to see where they are sniffing! This portends to me action!