Whether you like it or not
buybacks are nowhere on the agenda atm
consolidation maybe as this would collapse or hold back the SP yet again
keeping the debt is happening bu inaction
refinancing the debt would be grand but looks like they cant get it done after years of trying as no one will give them a bond
rising AUD$ will decrease debt in AUD$ terms but decrease sales income also as sales are in US$ so this will slash cashflow also
If it was normal debt without restrictive covenants and interest at 6% yes it should be kept but not this type of bondholder debt with $80M then $100M min cash holding obligations, 8.5% rates with default clauses left right and centre. They have to get out of this bond debt asap, a refinance on FMG like bond terms would spike the SP but they cant or wont as the Board is controlled by these very same bondholders who own the debt.
So expect nothing,
1.9c on 14 April
1.9c today, no change for 4 months.
AGO Price at posting:
2.0¢ Sentiment: None Disclosure: Held
