I am no accountant and tried to juggle figures from the annual...

I am no accountant and tried to juggle figures from the annual report but have to admit I got a bit lost.

Having said that is it possible that the deferred tax loss relates to the option series (prro, prra etc).

Is it possible that since these options expire in 2011, 2014 etc that because they are considered a future revenue, which as yet has not been realised, that they are in fact written up as a tax loss, because this revenue has not been received. It may also relate to the fact that the tax rate in 2014 at this stage is unkown. If these options are not converted then they will probably be a tax loss. if they are converted then they will be taxable income.

Maybe this is what the statement at the bottom relates to ie in particular "the recovery of this benefit is uncertain.
".

Anyway, just food for thought. Or some may say just dribble.

From annual report
"The above potential tax benefit, which excludes tax losses, for deductible temporary differences has
not been recognised in the statement of financial position as the recovery of this benefit is uncertain."