The loan will be fully paid off in July next year from memory....

The loan will be fully paid off in July next year from memory. The company will then become a serious cash cow (assuming management don't decide to buy another asset anyway). I think we need some clarity around future dividend levels for the stock to rerate significantly. The problem is I don't think management even have a firm view on this (in terms of say a set payout ratio). If they do they clearly haven't let the analysts know. Baillieu Holst have a dividend forecast for FY18 of $0.04 whilst Canaccord Genuity have got $0.02. If it turns out to be the former it'll be on a yield of over 10% and will surely rerate. If it's the latter, I wouldn't be nearly as excited....