That is a very astute observation. The tax loss is accumulated from SS, WL and PD. Exploration and evaluation expenditure $217,327,508 (non-current asset, page 16) *The recoverability of exploration & evaluation expenditure is dependent upon further exploration and exploitation of commercially viable mineral deposits. Therefore, they can only use this tax asset once they make money from selling the metal.
I think they must have structured the business in a way that DEV Mining Services is carved out as a separate legal entity. Note there is no mention Trafigura loan has security over DEV Mining Services (page 17).
The entire profit is attributed to DEV Mining Services which does not have accumulated tax losses. Since they are paying taxes on this division, that means they can start paying divvy once the revenue explodes.
Looking forward the Group’s focus is the Bellevue and Woodlawn underground mines. Does that mean DVP WL actually pays DEV for services rendered like an inter-company transfer? It would be awesome if they pay themselves for the work they are going to pay somebody else to do. MINres is kinda set up like this aren't they?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)