Important to note that also that at the end of this quarter I...

Important to note that also that at the end of this quarter I suspect IEC cash at bank is likely to be $6-7m, particularly as the first three months of volume at higher take or pay 12 month contracted prices in 2019 have been significantly higher than last year. From my time in Tanzania there was always a lag of debtor collections over the festive period and customers would slow down payments to meet their one month bonus obligations to employees and to get through the shut down period. If you look at the balance sheet at 30 June 2018 and 31 Dec 2019 debtors were higher by $1.5m. Expect that to be all converted to cash and debtors to be running around $3m.