After deducting the $11M of cash they have on hand from the debts they owe, the net gearing of the fund is down to 61%.
And they seem to be clearing more than $1.5M per quarter in net cashflow after costs and this is helping to chip away at the debt as well.
Can't wait to see what Aquasia come up with in their review of the fund. Anything rated BBB and above should be easily sellable in the current markets and by my calcs about 75-80% of the fund is rated BBB and higher
MXQ Price at posting:
21.0¢ Sentiment: None Disclosure: Held
