@JPGuru That's a good point, I don't think they'll be able to...

@JPGuru That's a good point, I don't think they'll be able to pay dividends for a while, especially if the 120ktpa or larger expansions are funded by cashflow.

I think the main thing to be watch will be whether their Opex rise is transitory, which would reduce their Payoff Period significantly and allow dividends soon.

Using cashflow to expand would also be a pathway to enable much greater cashflow and quicker payoffs, though using the cap raise route would keep SP depressed in the short term, though raise the value of the underlying business in the long term.

@budcar yeah absolutely, the uncertainty and spill from that could affect everything.

KLL has the bonus of low cost debt to be able to survive down terms in SOP pricing, or sharemarket unrest.