Guys
As some of you would know I’ve been in Aurora since around the 40c mark, about 3 and a half years ago. I have a large holding which I have held the whole time along with some smaller top ups on dips.
What concerns me is what Macky17 alluded to a while back, “the level of our debt”.
We have unsecured notes of 660 (up from 390 last year)
Total liabilities of 962 (up from 658 last year) a rise of 304
Our Debt/Equity Ratio is somewhere between 80 and 90% which is extremely high.
If you looked at the raw numbers and didn’t know anything about what we are doing, you wouldn’t touch Aurora.
Ok guys…… are my concerns valid? …………..Or are you confident that our cash flows will be able to pay back our debt?
I note that we paid back 60 LFY of our revolving loan in March and that the unsecured notes are due early 2017.
I’ve put this out for discussion as
1. I have some concerns.
2. On YMYC a couple of weeks ago AUT was mentioned in regards to its large debt ratio.
3. Roger Montgomery (whether you like him or not, he cannot be ignored) has AUT as a C4. Not investment grade. By the way Skaffold has AUT at an intrinsic value for next year of 4.90.
RedMax
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