Pg 13 of the presentation has avg federal tax at phase2 of $110.3m per annum. At the 21% US fed tax rate, this implies a pre tax profit of $525.24m. Take away the stated federal and state taxes gives $400m post tax profits. That's AUD$615m at a 65cent exchange rate.
Roughly 50c post tax profit per share (assuming a big if of no dilution). But still gives a decent feel for the upside.
Ann: Mines and Money Miami Presentation, page-23
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