i'm old enough to remember when 'franking' was but a twinkle in the eye of politicians and dividends were made 'unfranked'. even today, companies distribute un-franked dividends.
and of course, if they want to attach a franking credit, they can pay the tax office the equivalent ... no real risk to anyone.
dividends ought not be beholden to clever tax accounting ... heaven forbid, what if MGX never paid tax for whatever reason? we happy with no dividends then?
and last, but not least, mgx was promoted and capitalised and exists to monetise a resource at Koolan which looks to be nearing end of life. grate job, mgx, well done!!! and indeed, a great deal of orginiating analysis would have a lump sum showing somewhere near end of mine life as a return of capital to shareholders. with this in mind, regardless of form, I'm sort of in the camp that they could and should resume dividends asap and not necessarily wait for adequate franking credits
and I don't accept that they'll need every ounce of what will probably be A$600 -> A$800m cash to acquire and develop whatever it is that they might acquire ... an acquisition that scale IMO would be beyond mgx's paygrade.
have a great day
(20min delay)