Hi Accaeric,
In the 19/11/2014 AMG Chairman's Address
"Those that have been with us for a while know we run a conservative balance sheet and have brought forward scheduled debt repayments. As I noted in my Chairman’s Report in the 2014 Annual Report, over the 12 months of that financial year, we reduced debt from more than $100 million to approximately $50 million as at 30 June 2014. Next month we will reduce that by a further US$15 million. Our cash position was further enhanced by the acquisition of Iron Ore Holdings. "
If they could do that then now the debt should get down to $35M rather than $50M. We might have to wait the end Jan to get the quarterly report. If BCI apply the WA discount on the royalties, it could help to save a bit on cost as well. They could use that to reduce debt.
AGO Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
FMG Price at posting:
$2.83 Sentiment: None Disclosure: Not Held
MGX Price at posting:
28.0¢ Sentiment: None Disclosure: Not Held
ARI Price at posting:
23.0¢ Sentiment: None Disclosure: Not Held
BCI Price at posting:
62.0¢ Sentiment: Hold Disclosure: Held
