Cannot understand the thesis here.
Drawn debt of A$220M, cash balance down to $85M and going backwards at least $20m p/q (probably more since they got an A$16M insurance payout this quarter) they’ve already drawn down a big chunk (A$30M) of their Glencore facility (A$75M) and try to claim this makes a “strengthened” balance sheet (wtf). Capricorn cost them A$43M this quarter and debt service alone is A$19M. Cant see a catalyst here especially as cu price weakens.
Unless you’re a bagholder waiting for an exit point, what’s the catalyst to buy here? Looks like they’ll have to be passing the equity hat around again sooner or later.
Cannot understand the thesis here.Drawn debt of A$220M, cash...
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Last
38.0¢ |
Change
-0.015(3.80%) |
Mkt cap ! $266.7M | |||
| Open | High | Low | Value | Volume |
| 39.0¢ | 39.0¢ | 37.0¢ | $1.640M | 4.347M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5170 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 120997 | 4 |
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| Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
| 29M (ASX) Chart |