On the matter of the capital return and the (in my opinion unecessary) delay in dishing it out. It means the expenditure of the March Qtr gets deducted from the kitty prior to any return.
Dec Qtrly reported $43.6m cash.
Forecast spend for March Qtr $2.3m.
Cash balance at March will be $41.3m.
Assuming management retain $10m for operations, this leaves $31.3m for return with 185.7m shares on issue.
Best case for return is now 16.8c per share. If management choose to retain $12.5m this drops to 15.5cps. Go ahead and DYOR on those numbers to ensure I’m not making things up.
Ann: Lachlan Update- Drilling to test multiple DHEM anomalies, page-12
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