Severely Weakened Free Cash FlowA near collapse in free cash flow undermines the firm’s ability to self‑fund capex, dividends and deleveraging without external financing. Persistent weak FCF increases reliance on debt or equity, challenging sustainability of payout policies and the timetable to reach net‑debt‑free status.
Safety Incidents Heighten Operational RiskFatal accidents raise the probability of operational stoppages, regulatory scrutiny and higher compliance costs. Beyond human cost, persistent safety failings can impair workforce availability, increase insurance and remediation expenses, and materially disrupt production reliability over the medium term.
Hedging Losses And Execution SetbacksMaterial hedging losses reveal exposure to policy execution and price timing that can erode realized margins. Coupled with Evander commissioning delays, these execution shortcomings risk recurring profit leakage and slower production ramp‑up, weakening cash generation and growth delivery prospects.