Further to my previous reply to you (and to anyone else who thinks a cap raising is on the cards), below is a quote from ALcoa/AWC announcement today:
“Despite the difficult market conditions, AWAC continued to generate positive cash flows during the second quarter".
AWAC is essentially AWC's only asset. It's only asset is cash flow positive, gives it a fully franked dividend of 70mill for the half year and AWC I repeat is geared at 14%.
I will decide by day's end whether I average down.
Go to bloomberg and read the news article on there re Alcoa's announcement. Very beneficial.
AWC Price at posting:
75.5¢ Sentiment: None Disclosure: Held
