Madamswer, the "other way" to view this is 1. the company...

Madamswer,

the "other way" to view this is

1. the company expects a rebound in sales, driven by inc spend in offshore oil&gas development in mostly aust waters
2. its inventory cycle is 6 months +/-
3. it needed some additional capital to fund this - either debt / or equity or asset sales

agree 100% that the sale price was low-end (as you say - limited mk), and this will inc the "fixed cost" part of the equation.....

however - it may be preferable to do a sale and lease back, rather than take on bank debt (in a shaky time for the oil patch) or issue new equity.

while I also agree re 'milestone for turnarounds.......this one has a decent product, and is leveraged to any rebound in energy prices.... (12m, 18m ????)

should get smacked next week ........with the partial opec/Russia deal.

rgds
V_H