Thanks for the reply & for the E & A Ltd heads-up, I'll have a...

Thanks for the reply & for the E & A Ltd heads-up, I'll have a look.

If they needed to plug a capital hole with a CR, I'd think it's going to go down further- a lot. They should be ok though cutting it fine. Wet weather historically is done in QLD by now & Covid contact restrictions have eased so it would be unlikely these issues would be as bad going forward unless we're dealing with mutations/new viral waves etc. If it came to needing capital I'd much rather they sell say 3-4 of the rigs they've purchased (which are highly sought after atm) to give them a capital bridge/buffer rather than dilute at these levels which would be a big mistake I think. If they chose to raise at these levels I'd reconsider my position, that would be managerial ineptitude. They've kicked some dreadful own goals but a raising at these levels would be a shocker. This is going to sound crazy but it's true..... the return they'd get by selling those rigs and expending it all on repurchasing equity at below 32c would give them a better (& far faster return) than putting those rigs to work.

They've demonstrated pre Kirkalocka they can run this well- cash flow was healthy, top & bottom line was growing & debt was getting paid down. There's no reason they can't be doing it again with increased scale. Let's see them do it