@miningnut Thanks for all of the forecasts you produce - regarding the income tax expense, from what I can see the tax losses have been sitting in deferred tax assets (based note 5 of the FY23 annual report). In the current HY report we can see that deferred tax assets reduced by $34.5m (from 55,933 to 21,433) over the six months, and although there isn’t a note detailing the movements it is likely that a large proportion would have been due to tax losses being used up. This still counts as income tax expense (since an asset is being used up, ie Dr Income tax expense, Cr Deferred tax assets) but would presumably be non-cash. Hope this helps.
MGX Price at posting:
51.0¢ Sentiment: Hold Disclosure: Held
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