I'm not at all worried about the cash position.
The decrease comes from the early closure of one facility and the purchase of bonds at 92c in the dollar on the open market. Both of these are good management of finances, reducing the overall cost of finance.
The expectation is that the cash position will be around $50M again by the end of the quarter. The increase being largely the result of a large shipment produced in the March quarter and shipped early April. Pricing for the quarter is set. There are no cash dramas this quarter.
Of course the big one is April next year when there is a large bond maturity. But they have a good pair of hands in Molyneux dealing with that situation. And the SP has considerable discount built in already to account for this.
Cheers,
Tim.
Ann: Quarterly Activities Report for Period Ending 31 March 2016-PDN.AX, page-9
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Last
$11.79 |
Change
0.130(1.11%) |
Mkt cap ! $3.526B | |||
| Open | High | Low | Value | Volume |
| $12.00 | $12.14 | $11.73 | $24.12M | 2.033M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7128 | $11.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.85 | 5416 | 1 |
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| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| PDN (ASX) Chart |