An interesting development. Sale was for $US40m cash and $US15m in Elemental Royalties equity = $US55m.
Royalties are fully taxable and cost little to administer, so an Australian royalty co with Australian royalties would have a distinct and enduring franking credits advantage over a foreign company in terms of holder tax paid.
I imagine DRR bid for the assets too. Given this strategic advantage, it is surprising they didn't win.
Ash
Morning News, page-5
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$3.70 |
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 141119 | $3.70 |
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