Let's not get too far ahead of ourselves re dividends, debt repayments and the like. A good portion of the cash generated in the first quarter FY23 has gone to Mitsui to buy their 20%. I also thought that some thing was owed to BHP for earn out / acquistion adjustment this quarter.
The price of coal seems to have declined a bit over this half so cash generated in USD (at least) mightn't be as much as expected (and the debt is in USD). Also it might have been a little wet in QLD which may slow production.
Talk about 5 year debt is interesting. The problem with SMR as a corporate lend is that it is kryptonite to almost all institutional lenders as its ESG profile is "awful". As educated, intelligent and sensible Hot Copper contributors are well aware there is good, bad and ugly coal - or metallurgical, thermal and brown coal (add a bit of sulphur to make it truly awful). In contrast there are many ignoramuses who think all coal is evil and therefore will fail any ESG analysis.
BSP awaits the quarterly update with interest.
Best
BSP
SMR Price at posting:
$2.60 Sentiment: Buy Disclosure: Held
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