This is what was stated in the Tarmoola Station ann on 21st Dec 2020 when they announced the acquirement:
Agreement includes the purchase of the following cash flow positive businesses with cumulative free cash flow of ~$1,000,000 p.a. (unaudited):
o A mining services business “Carhill Contracting” (Includes ~$700k of machinery and equipment)
o Rights to continuing carbon credits valued at approximately $360k per annum
o Approximately 700 head of cattle
o A 20-person camp with approvals in place and infrastructure built to upgrade to a 50-person camp with associated mess and kitchen facilities.
As owners of the station, Torian will receive continuing carbon credits valued at approximately $360,000 per annum
So that is $1.3m we should be receiving for Tarmoola Station per annum, so where is this annual income as I am failing to see it anywhere, and here we are paying suppliers $421k for this "cattle farm"!!! We are paying more money out for this "cattle farm" than we are receiving. Correct me if I am wrong.
Another very poor investment decision by this management IMO.
(20min delay)