Not necessarily true CJ. If Lynas management can demonstrate to the directors the company is likely to make a taxable profit in the foreseeable future, then that deferred tax asset should be recognised as such. Split between current and NC assets.
Should not be difficult for directors to convince auditors as cannot argue with the facts.
Lynas could produce an EBITDA in excess of $200m in FY18 at current RE pricing. These discussions probably happening as I type this post.
LYC - My FY2018 Forecast, page-41
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