Just starting a new thread title here (albeit with current...

Just starting a new thread title here (albeit with current discussion themes), given that the dividend has now been paid and our next "event" will be the Return of Capital.

Like many others, having come this far and paid a lot already, I am confident Tanzania will make the third & final payment (USD 30m = AUD 48m).

Assuming IDA gets the ATO approval it's chasing, that will mean a juicy AUD 32m or 5 cps return of capital for shareholders prior to 30 June, with another AUD 16m left over. I'm assuming the company already has ample funding, so I expect they'll find a way to flow that additional AUD 16m or 2.5 cps through to shareholders (possibly via another unfranked dividend?)

This is not even discussing the prospectivity of our SA tenements, which seem very exciting

On this basis, I loaded up with another million shares last week

Here's my maths: Return of capital is tax-free (it just reduces the cost base of your shares for CGT purposes), so shares you buy today at say 6.5c are actually costing 1.5c after the 5c ROC. THEN I might get another 2.5c dividend, on which I assume I'd lose 50% in tax, so that's worth 1.25c after tax. That means, if I'm buying shares at 6.25c, they're basically free! At 7c, the "real" cost is 0.75c, which is just ridiculous given the company's cash-at-bank and prospects. I therefore expect to see this tick up to something more like 10c approaching the TZ payment date at the end of March, and then the ROC date before the end of the FY. Even at 10c, you're paying net 3.75c (or a market cap of around $24m) for a company with $15m in the bank and our SA tenements.

Happy for anyone to check and correct my maths here (if I'm wrong, please tell me asap before I load up again at these ridiculously low prices ha ha)

Onwards and upwards!
(as always, this is just IMO and DYOR)