The GOCF decline of 40M was achieved with the receipt of $15 million of professional fees which was paid against the disbursement funders, both abnormals and cancelling each other.
We are starting the 2024 year effectively with a notional negative GOCF of 17M assuming that the Mesh disbursement funders will be paid as it is still a higher charge than can afford to be carried. Against that cash flow there was 21M cash which is probably reducing as lawyers salaries and executive and directors compensation gets paid. I cannot see how there will be a return to dividends, and given the interest on the borrowings, how dividends will be an approprate use of shareholder funds for FY24 and FY25. So I'm not expecting a return to shareholders in any form in the medium term.
SHJ Price at posting:
62.5¢ Sentiment: None Disclosure: Held
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