Understand what you are getting at but the definition of net debt is around accessible cash hence why trade receivables are excluded (and even more in this instance with the majority being Beadell). That doesn't mean its not an asset and shouldn't go into a valuation but I would discount it, even if only on an NPV metric (time value of money).
Net cash I've calculated at $108m of cash less financial liabilities (current) of $15m and financial liabilities (non-current) of $30m. Actually I'd calculated this wrong above when I said $55m (I'd rounded down), its actually $63m.
