We get the downside from a divvy cut based on preparing for the cash required for McPhillamys, but no upside in the SP from the approval that is a condition for needing that cash anyway
Would have preferred short term they maintain the dividend then raise on market following bouyancy in the SP on a McPhillamies approval. But in the end it is probably about the same - this is just a more volatile path. Great opportunity if we can
Ann: Half Yearly Financial Results Presentation, page-19
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