just revisiting reading Gray Media reports given the constructive challenge on the debt levels appreciated from highpriced. The business is highly cash generative and on track to repay $500m usd in debt for calendar 2024. Given the cash generation and debt reduction (post major aquisitions) and given the hedged debt structure and maturity profile, I’ll maintain a speculative small position given the low price to net assets and strong cash flows providing both strong dividend (not my primary focus) while reducing debt. The business has also noted that interest expenses are already reducing due to the debt amortisation
SWM Price at posting:
16.0¢ Sentiment: None Disclosure: Held
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