Taboon, hi"IMO the MRRT doesn't not figure at all in the cost of...

Taboon, hi

"IMO the MRRT doesn't not figure at all in the cost of financing the start up and construction of the mine...or securing offtake and customers...that's all we need to worry about in the short to medium term..."

Sorry, I disagree strongly. The value of a share is normally the present value of the expected profit stream, and the value of the share is usually adjusted slightly (or the profit stream is discounted by a different interest rate) to take account of the certainty with which the future profit stream is known. (There is another factor that affects the value of a share, and that is the dividend payout ratio, but let's keep it simple. MRRT reduces our future profit stream and therefore lowers our share price. Lowering our share price increases the dilution we suffer at each capital raising. If our Board is not planning on a capital raising but is negotiating a JV deal, then the amount offered by our JV partner will be less if there is an MRRT. It most certainly affects us right now, even if the actual payment of the tax by us is light years away.

(BTW, the redistribution of income and wealth etc., its desirability or not, the effects on the performance of the Australian economy of doing or not doing it, and the various different possible ways of doing it are something else. MRRT is just one possible tool for the job.)