Paying off debt strengthens the balance sheet and improves the cashflow immediately. According to the cashflow statement on 31 Dec 23 accts RRL paid $11.6 million in interest for six months (so around a $23 million expenditure if annualised). My question is with major capex needed in the near future to boost reserves and sustain positive cash flows and $300 million in existing bank debt should RRL be really considering buying back shares? For me it's a definite no - although I can see the temptation with what we consider is a low share price.
Resource update, page-12
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Last
$1.73 |
Change
-0.185(9.69%) |
Mkt cap ! $1.325B | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.82 | $1.73 | $12.74M | 7.223M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 50511 | $1.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.73 | 18724 | 15 |
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| Last trade - 13.03pm 25/07/2024 (20 minute delay) ? |
| RRL (ASX) Chart |