Cash in the bank, let's assume $40-ish million, after a month's burn on the June 1/4'ly.
I'll hold my fire until I see the amount/price and ARU's justification for the C/R at this time, but one alarm bell for me (which I think I raised previously - apologies if I sound like a broken record) is the absence of support for ARU's Chairman and one other director by ARU's main shareholder Hancock, evidenced by their abstaining on their re-election at the last AGM. This may have been rectified by moving Lockyer on, installing Cuzzubbo and adding 2 new NEDs. Time will tell I suppose, but it was a bad bad look, and none of us are the wiser why they saw the need to take that step.
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