Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-13

Also increasing WC, there would be little point increasing raw material supplies if you didn't think there was a buyer for your final product
".../the Company’s decision to increase our investment in working capital to secure supplies of key raw materials"

Similar to you, post HY report, they guided to a soft Q1, after reading the latest report, It wasn't as soft as expected, but thought the market might view it as such

As I said before, allows for a better purchase price, so happy for it to be falling.
slowly building a significant but not uncomfortable sized holding.