I think they can get to the end of year carrying nifty but they’re going to want to find a resolution before the debt falls due in January. New equity won’t want their funds going towards funding care and maintenance.
I keep fast forwarding 2 years time where nifty is gone, Renison capex is sunk, they’re into the high grade zones at Area5 and they’re spinning the current market cap in cash flow per year not having to pay a cent in tax for quite some time. Who knows tin might even have a run.
I think they can get to the end of year carrying nifty but...
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