Paying off debt strengthens the balance sheet and improves the cashflow immediately. According to the cashflow statement on 31 Dec 23 accts RRL paid $11.6 million in interest for six months (so around a $23 million expenditure if annualised). My question is with major capex needed in the near future to boost reserves and sustain positive cash flows and $300 million in existing bank debt should RRL be really considering buying back shares? For me it's a definite no - although I can see the temptation with what we consider is a low share price.
Resource update, page-12
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Last
$2.47 |
Change
-0.145(5.56%) |
Mkt cap ! $1.858B | |||
| Open | High | Low | Value | Volume |
| $2.50 | $2.50 | $2.43 | $6.229M | 2.528M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 50044 | $2.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.47 | 57268 | 59 |
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| Last trade - 14.34pm 07/11/2024 (20 minute delay) ? |
| RRL (ASX) Chart |