@GCar & @Shadyjames reviewing what I have written on the losses and taking into account I wasn't thinking correctly on how they are applied; I should have been looking at each of them as a reduction in tax by the 30% that they offset.
In which case, according to the end of year 2020, the company had US$215 million in cash and financial assets. (AU$277.38 million)
The losses of US$202.3 million would reduce tax by US$60.69 million. (AU$78.30 million)
Giving a combined total value of US$275.69 million (AU$355.64 million)
Of which (simply calculated) those losses would be used during the course of 2021.
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Something else I spotted in the 2020 annual report was a mention of Q1 shipping that we are waiting on the quarterly for...
On Page 15, 2021 Outlook, it says: Galaxy shipped 45,000 dmt in the March quarter at a materially higher price and expects to continue selling on a spot basis as price recovery continues.
Which is odd, given that the announcement a few days prior on the 12th April says: 29,917 dmt of lithium concentrate was shipped during the quarter whilst a second shipment of 15,000 dmt was delayed until early April due to the late arrival of the vessel.
Does that mean payment has already been received for that shipment that will leave in April and it is considered sold @ US480? - Or is it an error in the annual report that should have been adjusted prior to issue?
GXY Price at posting:
$3.42 Sentiment: None Disclosure: Held
