Fair Dinkum. Debt? really? I'd suggest reading the annual...

Fair Dinkum. Debt? really?

I'd suggest reading the annual financial report dated release 09.09.2013,

"5. Discussion and capital analysis
of the Balance Sheet
5.1 Net Asset and Total Equity"

As at 30 June and this time have a close look at the inventories of some $2.1Billion.

And they've had a better than expected first half since then.

IMO , no doubt the inventory has been added too and with higher POG increased in value as well.

It more or less states the reasonable 15% gearing, at low interest rate about 5% average, they crave was achievable at that point.

By selling the inventory at that point but with an increasing POG why would you?