They've got to liquidate some of that working capital - I have them with A$40m sitting in receivables (mostly from MSC) and inventory. I think they repay debt (only $7.75m remaining) then maintain a cash balance of A$30m to cover the expansion (their share of opex is ~A$70m pa). They've also got to give NICO A$5m or so for the IPO (that's if it makes it to IPO and isn't bought out beforehand).
So my bet is cap returns come at the half year - and could be as much as A$40m. My preference as slated previously is a buyback at these prices (and lack of franking credits).
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Last
54.5¢ |
Change
-0.010(1.80%) |
Mkt cap ! $483.0M | |||
| Open | High | Low | Value | Volume |
| 56.0¢ | 56.0¢ | 54.5¢ | $613.2K | 1.109M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 75745 | 54.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 55.0¢ | 48986 | 1 |
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| Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
| MLX (ASX) Chart |