Ann: St Barbara buys back US$10 million of Senior Secured Notes, page-2

In case people do not understand what this press release means let me tell you - its great news.

Total debt will have fallen to USD249m (AUD356m) from USD325m earlier this year, a reduction of USD76m (about AUD108m)!!!!, and we still have three months to go so expect another USD19-20m drop in debt by the end of this calendar year.

The cash balance after making these payments will probably be over AUD80m, so net debt will only be around AUD276m, less than half the debt carried by EVN.

Future interest payments are going down as they pay down the debt so they will be able to accumulate cash more quickly to repay the amount outstanding. At the current gold price I think they will be able to fully meet their debt obligation by April 2018 without having to get an advance from a bank.

I expect the share price to move up another 5-10 cents on this news and that it will be around $1.20 some time this year.

Good luck fellow gamblers.

loki (when you are on a good thing stick to it)