the real cash number for end of qtr

Qrtly report says closing cash is A$46M.

From the NZO qrtly report, if they have had NZ$84M of sales, but have only received NZ$62M in cash, then NZ$22M of cash from oil sold prior to Dec 31 has not yet been receipted. I would call this "cash in transit".

If PPP has 10% and NZO has 12.5%, then PPP's cash in transit is 4/5ths of NZO which would be NZ$17M which is A$15M or so.

Therefore total cash position is A$46M + A$17M - A$20M of loan to repay = A$43M net cash position after paying off the Tui project debt.

That's a lot of dosh. It won't arrive all at once, but it looks like the next 3-4 qrts could be pretty meaty.