it can also be used if something good is about to happen or has happened.
(a big wave is rolling in)
'cheers.. this one's gonna be a ripper'
Thing 2. "Oh thanks man! Cheers!"
Thing 1. No problem, it was my ple......wait a minute did you just say "Thanks" and "Cheers"? First of all you don't say 'cheers' if you already said 'thanks'. And second of all why the hell are you using the word 'cheers'? You were raised in Arkansas. (Tool)