Agreed, there is a big fat expense item to kick the year off early in July, but I don't agree there was a cash injection - the $227 mil raised was to pay the o/d facility out, reimburse the company for the reduction in the facility in the previous month and to pay for some nondescript working capital (possible eaten up by the fees which could have been large). If the exercise to pay out a $90 mil o/d facility was not cashflow neutral by raising $227 mil then it was very very close. Anyway, that is a moot point also, because that will be waved away as a necessary expense in the past and the fact it was all transferred to shareholders but the SP rose from 25 cents to $3.65 just makes it all irrelevant LMAO
If ZIP is earning then the profits and dividends will be great in Aus, but that might be a few years away yet Let's see how the market reacts this time. Last time was a sky falling in scenario
ZIP Price at posting:
$2.22 Sentiment: Sell Disclosure: Not Held
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Let's see how the market reacts this time. Last time was a sky falling in scenario
(20min delay)