At the start of the year inventory was $23m, AR $20m. If you take 30-June and the Q3 mvmts you get inventory $38m, AR $18m. Not sure where you’re getting your figures??
Whilst these balances may appear elevated… when you’re doing ~A$200m of attrib sales it ain’t that bad. Also this is lumpy cash flow.. you can probably have a single boat carrying 500t of tin - that’s A$20m.. a lot of inventory/ AR if a boat is in transit.
Anyway - think you’re making a big deal out of relatively small amounts.. will be swings and roundabouts… I do think Q4 there should be some WCAP unwind and cash balance sitting close to A$150m… all to look forward to.
At the start of the year inventory was $23m, AR $20m. If you...
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