"SRH's asset base and market position have weakened dramatically"
Market position can decrease and increase. Agree the asset base has decreased, so has the debt from $15 million down to a quarter of that. SRH is cyclical and about the timing, imo, no different to Bluescope steel, one of many as an example, from $12 down to 30c.
Let's see what the next 6 months bring