The remains their intention until suitable providing it remains within its target leverage range at the time. Other analysts have remained silent about Star since its financial update was delivered last week. Equity analysts are not so confident, with Morningstar analyst Angus Hewitt, in a note to investors, saying that at its current cash burn, the company would be lucky to make it to its interim results scheduled for February 28. "We now incorporate a 50 per cent probability that Star falls into administration, and equity holders are wiped out," Hewitt said.
The Sydney-based exchange issued the announcement on Monday morning after Star failed to publish its annual financial report by last Friday’s (31 August) due date. These issues led to the suspension of its half-year financial statements, a brief trading halt in February, and its shares being suspended from the ASX in March. At one point, the company reportedly had only AU$79 million in cash, enough to stay afloat for just one more week.