Thanks for that - hopefully they can settle it quickly, and pay off any overun on costs for PH.
Hopefully free cashflow will do that soon, but it was a little strange that when pressed yesterday in the investor conference on what the actual cash balance was Michelmore tried to repeatedly evade the question, highlighting only that they've had no need for the bridging finance.......
It's great that they don't have to dip further and incur what I can only imagine are hurrendous spreads on all facilities, but a CEO should know his cash position, or at least instill some confidence about where things are at.
I might have to fly in from Adelaide for the AGM just to see how much of a pasting he gets. (someone bring the shoes).
Maybe a HC collective piss-up after the event.
Either that or $1 party here hopefully by the last quarter.
T
OZL Price at posting:
$5.75 Sentiment: Hold Disclosure: Held
