Ann: September Quarter Trading Update-CM8.AX, page-84

Great post, Marv, and agree the focus should be on repaying debt - not issuing equity. Many of us will remember that the lack of equity funding for the Track deal led us to this debt situation. Any big issue now would need to be at a very low price to attract investors.

However, Dom needs to articulate a clear capital strategy for CM8, and then link how every deal (like the recent mini CR's and Track vendor finance extensions) link to that strategy. Otherwise, punters are flying blind, assume the worse and the SP still sinks like we've seen recently.