I was wondering whether ASC was delaying of any signing of contracts until after 1st July 2011 to buy time in settling a potential tax debt.
The company has $5m in carried forward losses and if the sale of their main mine was sold between $40-$60m (based on brokers estimates) then there will be a significant tax liabiltity of probably between $7-15m.
Bearing in mind that the company is capitalised at $47m so delaying a tax liability by an additional 12 months would provide cash flow and time to re-structure for potential new capital purchases. There have been numerous cases of tax liability effecting timing of settlements eg AMU right now
Just think this could be a possiblility since capital gains is due & payable in the tax year that the contact of sale is signed NOT when it is settled. Its going to be May on Monday and only 8 weeks to the 1st July. ACS doesn't seem in a hurry although it has always maintained that a sale was eminent.
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Last
0.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.937M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1080000 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.0¢ | 50000 | 1 |
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| Last trade - 16.21pm 15/09/2025 (20 minute delay) ? |
| ACS (ASX) Chart |
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