Here's a more simple approach:Open the quarterly, check the cash...

Here's a more simple approach:

• Open the quarterly, check the cash waterfall on page 8.
• Note that Golden Grove took them backwards (A$12M), Capricorn (A$22M), corporate costs (A$10M), debt service a further (A$20M), for total backwards cash movement of (A$65M).
• Read on to see there is an upcoming Stamp Duty payment of (A$26M) due in the first half of this year.
• Take note that there is unaudited drawn debt of US$146m or A$224M

Now you have a fair idea, without having to bother calling the company, why the stock is getting dumped. Given the debt position, and a potential pending C&M situation, there is a non-zero chance the equity goes to zero.