A lot commentators made assumption that the company can only fund development from debt facility and convertible notes only and overlooked that current asset does generate substantial amount of revenue minimum 33m a year (and still increasing quick). This amount can be used to fund development as well as paying down debts. They didn't have the share buy back if the company financially desperate for more debt.
I m sure the existing capital management formula working well. Management strikes a balance between debt, income and further development and grow the revenue as well as reserve the share value through decreasing dilution.
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