Faking, I'd agree with you on the debt. Refinancing for half of the debt due 2014 - 4 years is plenty of time to get to its 100,000 forecast post ramp up.
Being a Brisbanite - really appreciate your input - could you see any difficulty in RCY getting 60,000 vehicles at the start and say 70,000 at end 2010 or even midway through 2011?
Those sort of numbers in my estimate means that they can service their debt and working capital needs. No need for share issues and dilution. Every cent above 70,000 vehicles can go towards paying distribution. RCY is worth a lot more than 30c in this scenario.
Brisconnect will be a big plus possibly contributing contributing 5000+ in traffic. What's your view on this?
Cheers Gasbag
RCY Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
