Those who see a concern in utilising our existing credit...

Those who see a concern in utilising our existing credit facility as wasting liquidity that we should preserve for SDV, JB or other matters are overlooking two essential items.

1. The security offered to A40 is required to be repaid  (or renegotiated) in just 10 months time.

2.  In the interim, GXY have no announced plans that will require anywhere near the expense of  our cash in hand. It is a very canny use of our money.

This move (which has been planned, even hinted at in the press since 2018 -see this AFR article), I believe, justifies the composition of our BOD and senior executive and their strategic acumen.

Despite my occasional gripes about the communication from the company to its OWNERS, I still have confidence in the ability, foresight and strategy of our management, and their ability to convert our investment into an extraordinarily profitable long term investment.

It may be a small gamble, but the odds are now very definitely in our favour and our exposure is relatively tiny when one considers the possible rewards. Don't forget Cowan.

I remain certain that spending the cash we have on anything other than developing SDV and progressing JB would be wasteful, utilising other means to expand our portfolio in a strategic fashion when the opportunity presents at the bottom of the cycle is intelligent strategy.

My opinion only, but I'm happy and comfortable with this play.