Guess this upcoming quarterly profit, page-36

That sounds conservative.

If my annualised June production spread sheet is on the money and any hedging losses going forward are covered by ramping up production, we are already in for $90 mpa free cash flow from operations at current prices when you increase the free cash flow by eliminating the $28m hedging effect. .

Thats $45m in the second half.

No interest to pay no tax to pay only cap ex which will probably be less than $10m so plenty of ability to distribute half the free cash flow and a 1c dividend. There will be a lot more cash in the bank by the time it is paid.

Tax on Super.

Reading more it seems the proposal may not involve the super fund paying more tax. It seems that its all about adding an extra 15% tax to earnings on balances over $3m. So tax free becomes 15% and capital gains in accumulation become 25% and earnings become 30%. No need to take money out of super if the dreaded unrealised gains tax doesn't get up.

Looks like the shareholder rewards aren't far off.