Ann: Cardno Announces Early Repayment of USPP Notes-CDD.AX, page-9

Surely a symptom of pessimism around a stock when people look at paying off debt as a concerning thing. In my view smart use of cash and confidence in future cashflows while lowering the interest bill in dollar strength.
The company is now extremely conservatively financed, I am watching for the 20m promised cost cutting benefits and a share buyback. Both of which are extremely positive for shareholders.
WOR may have seen a share price rise following oil price but by contrast it's balance sheet and cashflows are weak. While the outlook for CDD is not exactly bouyant it need only stabilize, where WOR is facing more writedowns and a potential capital raising (now that it has been denied by management it is officially happening) as high cost capital intensive oil and gas exploration as well as mining are still in the dog box and will be for many years to come I think.
CDD is showing encouraging signs and the shareprice is flat, good for buyers. WOR shares have re rated with the oil price without real signs of the turn around coming, surely making them relatively less attractive for purchase.