My understanding of the cash situation, per DR comments, was that we had 12M cash at March and that " end of this quarter would be about the same perhaps we might add a bit but the main focus is paying off the debt, hedge etc" . No update provided as at now, although he would know what it is, so probably 12M good guide for June as otherwise he wouldnt be confident saying that.
So cash at bank not likley to increase for the quarter, so therefore main thing market will want to see is positive cashflow directed largely at debt. Lets see the debt repayment at end of June.
It does confuse little old me though, in that they pushed out debt and hedge so they could make headway and generate cash for future growth projects. Now they just use that surplus cash to pay down debt anyway? My best guess is they have narrowed the focus and see Nullagine as the primary growth project so they have decided to pay debt down now (when they didnt have to), with the strategy that this will make is easier and present better when they go for some extra restart finance in 6-12 months time. Nearly like a pay down then redraw.
(20min delay)