yes agree. company has 625m bank debt , owes BHP $150m due 30/6/24 , has Gear debt 44m. This excludes lease debt. Would be good to see a deal to eliminate the $625m bank debt which is a 5 year loan subject to an annual sweep repayment. cant see any buy back until this loan repaid or substantially reduced. whilst cash on hand is about $500m and cash flow is huge, debt needs to be repaid first which should be done now whilst cash flows are huge.As things stand , debt at 30 june 2023 will still be about $650m.. ie bank debt $500m plus BHP $150m.
should do a deal on the $650m 5 year loan in my opinion . Especially since by 30 June 2023 the company will be sitting on about 1.5 billion in cash.
SMR Price at posting:
$2.69 Sentiment: Buy Disclosure: Held
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