And what did you want them to do? Not ask for the money owed by debtors and not pay creditors?
4 mines that will be profitable I believe at a met coal price of around $190-$200 producing what over 20mt pa
The Stanwell situation is no big deal. They need to deliver 3mt for the year. Big deal. Short on a run rate of 150kt for first quarter.
Let's assume that with operational efficiency and steady met coal prices for the June qtr we get same cash from operating activities of say -$37m and CAPEX as you said $30m. I would say that some of the CAPEX would be sustaining CAPEX whhich they could put off for a few months.
So debt increases by far less than $100 million which you state.
ABL Lenders will come to the party. Someone will. I sincerely hope.
My pet hate is when people talk shit. Re: second tier.
(20min delay)