Hi Asf
Its info from company presentations. They are building more mining accomodation and need to debt fund to do it.
They have some guarantees on some of it but if they big tenants leave then they are stuck with no income and property assets earnings no money.
The big CAPEX spend is occuring now although they may reduce the size of Gladstone spend.
But I'd expect net debt to be around $50m-$60m at end of this financial year.
starting to go long at $3.65, page-26
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