The previous 2 extensions to the payment date for 33% of NCF were announced as "Price Sensitive" announcements. There's 9% of a US$1.1Trillion swinging in the breeze. Yes sure this is a dramatic statement, but there's no bigger news than CO2 and Global Warming ATM, is there? And GER have the opportunity to get an extra 9% in NewCO2Fuels.
You should have paid it last quarter!
The latest extension which you didn't notify us of at the right time, ended yesterday. Either go into a TH and wait til the deal is done, or let us know that the deal has been done. I'm not at all happy with the way you've handled this.
At the end of June 2015 you had cash of A$2,625mil and your estimated cash outflows for the next quarter (July to Sept 2015) were A$1,257mil. You actually spent A$1,912mil (see Qtrly) an increase of A$655k (or 52%) c/w your target three months earlier. THIS was the cash that should have paid up for the extra 9% of NCF ..... or am I missing something?
What was more important than paying up for the 33% in NCF?, or was it a dreadful forecast?
I note that you've forecasted cash outflows for the next 3 months of A$905k. I hope we're not having this very same conversation in three months time. Please let us know what's going on.
