The 300m debt increase was due to the acquisition of the WPG...

The 300m debt increase was due to the acquisition of the WPG iron ore assets in august - october. IMO a great way to invest for future growth without doing a capital raising. OST will probably also be underwriting their dividend to the tune of 30 million, providing some working capital to manage their operations.

The increase in debt is clearly justified due to the acquisition of some high quality iron ore assets that will generate strong cash flows for the next decade.