Reducing debt at a time when future earning (our next 2 years are stable, but then what? so much uncertainty) are not so clear and there is a risk of prolonged oil price weakness would be a very prudent thing to do. Additionally it would put the company is a better position to capitalise on any distressed sales from any smaller operators. The company doesnt need to be giving out a full year 12% fully franked dividend based on current prices.
30% gearing is great and very responsible during an expansion period, however with the jaya acquisition I dont think mma will be looking to increase their fleet for the near future unless they have a need in order to transition towards production. Lets get it down to 20%
Reducing debt at a time when future earning (our next 2 years...
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