Shame management didn't declare a dividend this half given cash position - even if at 1-1.5c - it would have helped with sp appreciation at least till going ex div and of course a few more dollars to holders would have been handy to help with living cost pressures. As it is, sp retreats but guessing mainly due to general market movement.
Management keeps hinting on addressing LOM issues but won't announce anything until something is firm, which is obviously fair enough, so in the interim it's a wait game and guess work at best as to what will happen exactly.
Good to know though that cash position should be even better by Q end, subject to IOP and the number and size of shipments. Unfortunately an end of year dividend (if any, as by then cash may be spent on a much anticipated acquisition) is still a long way away but sp will hopefully react positively (thus growth v dividends?) once path to growing resource becomes clearer.
FEX Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
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