But Mr Biswas said the $US100 million repayment was a reflection of the cash generated during the September quarter and a sign that Newcrest could fund itself. "Under the current market and operating conditions the cash inflow from the Cadia ramp-up, the turnaround of Lihir and the EDGE (efficiency and cost reduction) program is sufficient to pay back our debt and get our gearing down and that is our primary focus," he said. Mr Biswas said shareholders should be excited by the early results at the recently expanded Cadia precinct, which produced at an "all-in sustaining cost" of $A207 an ounce during the September quarter. "Look at Cadia's cost base, $207 all-in sustaining cost, that is a massive margin and it is not even at full tilt, that is the potential of this company," he said. Newcrest chairman Peter Hay backed up those comments by saying shareholders had no need to be concerned about a dilutive equity raising.