This makes for grim reading. Large underlying loss of $67M and...

This makes for grim reading. Large underlying loss of $67M and down to a net cash position of only $18M despite $200M of asset sales during the year.

At this rate they will be into net debt by the end of September. Stand by for either more asset sales or a capital raising.

Waitsia will help but with Phase 1 only 10 TJ/d they will need a cash injection from somewhere to take it into Phase 2 and make some real money.