Hi pe i am no expert at this but as far as i can see the half...

Hi pe
i am no expert at this but as far as i can see the half yearly has quoted an accumulated loss of $99,694,168 based on 3 billion shares this is approximately 3c a share in accumulated losses.
In other words the first $100 million of profit would be non taxable and at the company tax rate of 30% means a saving of $30 million and therefore 1c a share saved.
Todd trying to buy the company for 1.3c would effectively be compensated 77% of the purchase price through the tax losses. meaning they bought the company for .3c or $9 million

I would have to say that this looks even more devious than first thought.
assuming they shipped 25 mtpa of ore at $10 per tonne profit we have $250 million per annum being made from their $9 million purchase.
That lads is how you become a multi billionaire

5-10c is my new range i would accept.

cheers and GLTAH