Yes. Its handled it pretty well. But I'm wondering what the effects of this 40% super profit tax will have on the long term prospects of CUE given its foreign exposure.
I was listening to "Parliament Live" just then. And Rudd and Labor were trying to justify the tax as the miners are using a non-renewal resource... oh wow, I wonder whether I can get a tax grant for listening to that as my time is a non-renewal resource too.
But seriously, it would seem more likely that our miners were become less competitive and face being taken over by overseas mining companies who will be able to do more accounting juggling ninja tricks to present a non-super tax result, ie using a non-performing mine to off-set the profits of a performing mine.
CUE Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)