Ann: Pilgangoora Resource Upgrade-PLS.AX, page-196

You can look at that both ways. If you can afford to replicate a 2Mt plant into a 2+2 plant from cash then you could afford to pay out debt. I don't know why everyone has such an aversion to debt. Debt itself is not a bad thing. It is a matter of time and place. If it is used poorly then it can be disastrous, if it is used smartly it is the cheapest funding method for growth. If they can get a low rate loan I would rather them debt fund the addition to the plant than use cash. That leaves cash to do other things, whether this be funding processing plants, making acquisitions or something else. And when I say acquisitions I don't mean DKO or AJM, I mean considering things like multi-geographical (if there is anything that meets smart investment fundamentals) or other ways to value add for the company.