Chart Update, page-16181

I recall their specific words during the previous guidance update conference call, when asked about whether a dividend was being considered given cash on hand, they said “not in the short term but they are always assessing their capital management plan”. Their wording suggested to me that they are always giving it consideration.
They did go into more detail about how they feel they can invest the cash on hand for a better shareholder return vs paying a dividend, but only time will tell if they have spent these funds elsewhere as the Mataura investment and packaging expansion hardly dented the cash on hand. Considering how long ago they initially told us about conducting due diligence on MVM, by the time the sale actually goes thru, perhaps the cash on hand won’t change?
Its all very well telling us that they can invest the funds better than us, but we are yet to see what they intend to spend it on, perhaps there is another billion dollar investment on the cards?