Free cash flow last year was $99m. They are funding asset level debt from free cash flow plus a large majority of the organic capex required as they cannot get debt funding. It is in the figures. Most debt repayment came from asset sales not free cash flow.
They still need asset sales at book and above and/or a restructure or capital raising to clear corporate debt and deal with dilution issues.
I agree sentiment is driving the price on the name change. It is good to see what a little proactive management can do the the share price.
Feeling if any positve news regarding DBCT was to come out it will be end of September, after Sparcs conversion notices are due, and around the 20 day VWAP period (gut feeling only).
Cheers
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