ok so no DIV declared and massive write down / impairment came through -
so income payments gone, good to see despite the big draw in borrowings to cash they didnt just spend it on DIV
somewhat surprised write down wasn't flagged to market prior to dropping report as it seemed a bit obvious- still a way to go in terms of amounts to write down for atlantic imo but they have started - yes non cash movement but the capital/ cash was spent in prior period and as Kramer would say, its just being written off
cashflow from operations way down - 227 to 87M
cash and equivalents include draw of 50M
ASIC increase -gross profit drop in accounts 367,- 265Msaw a financial drop a 64% increase in loss with pop so you never know
certainly alot of work to be done to get the suite of assets back up an profitable, cash for development etc still going on
net result a loss of 160M.
Time will tell , good luck
SBM Price at posting:
91.5¢ Sentiment: Sell Disclosure: Not Held
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