edit: scrap franking credits, on revision I don’t think YOW has ever been profitable...until now. Crazy to think YOW was almost capped at $200m back in 2016!
Anyway, the point remains that YOW has a $10m tax shield / DTA. If the current trajectory continues (ie profitability is maintained) that’s potentially another 5c worth of future cash flows...not a lot of downside as I said.
What’s the play for Bolton and Keybridge from here do we think? YOW doesn’t need $8m for working capital, so maybe there’s another capital return on the horizon now the business appears to have stabilised?
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