It is a bit confronting on first glance, but from my perspective the company can comfortably pay off the debts + MNF instalments. VN8 still has $11mill of tax losses too.
Cashflow in is averaging about $600k per month now, cash at bank of $5.4mill.
Payments are $500k per quarter for the Longreach debt. $3.7mill to pay down on MNF in 4 months.
Cash balance end of June Qtr = 5.4mill + 2mill - 0.5mill Longreach - 2.7mill for MNF = $4.2mill with final payment the company will have around $3.5mill cash on hand.
FY23 will be $6-7mill FCF positive EBTIDA $8-10mill and additional debt repayments would be ideal to smash out the high interest Longreach debt. Cost synergies and additional cross selling opportunities would be realized too.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
---|---|---|
5 | 1323957 | 3.5¢ |
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Price($) | Vol. | No. |
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3.6¢ | 3589476 | 11 |
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6 | 2769644 | 0.034 |
2 | 3515152 | 0.033 |
1 | 1562500 | 0.032 |
2 | 65000 | 0.012 |
Price($) | Vol. | No. |
---|---|---|
0.036 | 3589476 | 11 |
0.037 | 10341271 | 8 |
0.038 | 629196 | 3 |
0.040 | 51000 | 2 |
0.048 | 400000 | 1 |
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