They could have cashed up at the start of the original Mt Marion deal but followed through.
I see no evidence to suggest that they won't pursue other opportunities that will potentially be fully funded and generate far more income.
If you had a choice of taking 8 years of profit today to start something bigger or drip feed the same amount over 8 years and have to pay down debt or execute a CR for the same new project/s. Which path would you take?
Time will tell if it was smart, lazy or just plain crazy. Interesting times indeed.
Ann: Letter to Shareholders, page-36
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| Last trade - 16.10pm 16/05/2024 (20 minute delay) ? |
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