today a higher doji with 2c red body 39c long neck and 9c tail...

today a higher doji with 2c red body 39c long neck and 9c tail
meaning the daily tops got sold off yet again
and it couldnt hold above 24.00 yet again to create that higher high
so the zigzag pattern continues & shorts snapped the top yet again.

Its not the net debt you need to worry about, which is low comparatively,
its the total debt aud$6B, the high junk bond rate 4.4% & the lender CS & its pound of flesh they want.

"Gross debt was US$4.6 billion at 31 March 2021, compared with US$4.1 billion at 31 December 2020, and net debt was US$1.0 billion."

The debt seems small but alas AGO & MBN thought the same for a mere us$250M & $100M poisonous yankee junk bond debt and both got sent under despite their anual revenues exceeding the debt & their MCaps at the time being 10 times the debt.

For 6 months the debt has increased at a period of record IOP now $220, so whats the debt going to do when IOP goes back to normal at $100? What will they sacrifice to live within their budgets, H, africa, divys but debt will rocket up & MCap drop away.

If they pay off the debt now when they can it will be better long term but they wont as the team is addicted to debt and high divys & they MUST pay the pied piper high rates as CS saved them.

The market is telling you something is wrong and the high IOP & the debt is the problem.