I suspect a further D2O capital raise isn’t too far away. The December 2019 financial statements detail that Bank debt was $94.2m out of a total facility of $100m. The ratio of debt to total assets was 38.13%. Since balance date there have been further water entitlement acquisitions and on market share repurchases.
Maybe they have been able to get the bank facility extended but the fall in the value of water entitlements detailed in the March 2020 update won’t have helped.
There was $15m placement and share purchase plan in April 2019, so expect an announcement shortly.
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