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 $300 million in existing bank debt should RRL be really considering buying back shares? For me it's a definite no - although I can see the temptation with what we consider is a low share price.
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---|---|---|
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Price($) | Vol. | No. |
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11 | 44915 | 1.795 |
10 | 36421 | 1.790 |
7 | 14651 | 1.785 |
9 | 25952 | 1.780 |
Price($) | Vol. | No. |
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1.805 | 31145 | 5 |
1.810 | 12835 | 6 |
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1.825 | 36028 | 7 |
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