So the debt went down 52.3m$US or 77.0m$AU in 6 months.
Since there's 213.2m$US in debt left, it means that, should they keep this rate of deleveraging, they will be debt-free in 2 years.
Considering they paid 14.9m$US in finance costs this half year, that translates to an extra ~30m$US or 44m$AU in extra profits a year in a couple years time.
That alone is enough to justify a share price well north of here.
But as always, the market is very short-sighted and this probably will go unnoticed until the dividends start pouring.
Considering they are still turning decents profits in a low part of the cycle while repaying 44m$AU in finance costs, I'm very confident in the health of the business and that it will have its time to shine well before my timeframe of 2027/2028.
Let's hope the sailboat is sold soon and I'll get some more.
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38.0¢ |
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Mkt cap ! $291.1M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 12600 | 37.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
38.5¢ | 5168 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 12600 | 0.375 |
1 | 10000 | 0.370 |
3 | 21010 | 0.360 |
1 | 10000 | 0.355 |
1 | 5780 | 0.350 |
Price($) | Vol. | No. |
---|---|---|
0.385 | 5168 | 1 |
0.405 | 10000 | 1 |
0.415 | 4350 | 1 |
0.440 | 2358 | 1 |
0.450 | 1592 | 1 |
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