I just had a look at the 2021 accounts (should’ve done this in...

I just had a look at the 2021 accounts (should’ve done this in the first place, my bad). Anyway the notes to the accounts refer to $10m of tax losses that have not been brought to account as a deferred tax asset because the auditors consider “it is not probable that future taxable profit will be available against which the consolidated entity can utilise the benefit”. This is not necessarily the end of the matter however because there is a high threshold test to recognise deferred tax assets under the accounting standards.