Mate I think that's closer to what the downers would have been hoping.. and they'd be getting ready to start rattling tins at Perth intersections!
I think they were saying 1.2 or 1.3m a quart, so they'd be very low if that was the case.
I'm sure they have to do raises well in advance of getting near empty.. they can't run it too fine, as if spending the bpay raise $ the week after it arrives! So there must have been more like $1m at the end of March, if not more?
Maybe some of those smaller contracts have a little bit flowing in..
I'm still wondering if this $2m was just a final condition of a big Affinion deal, as another poster suggested..to be topped up for a bit more security for at least the first 12 months or something. Would not be at all surprised if we see something very soon after close date, once the $ has arrived from holders and then whenever the date is that the sub underwriters have their allocations scaled back and funds cleared.
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Mate I think that's closer to what the downers would have been...
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