No-one has mentioned 10p for a couple of years......1p was mentioned by someone. MC at start of day =£5m .....potential value of deal c£8-10m You do the maths ( Oh and don't forget the Itogon & SLM mines).
"The availability of MGA’s tax losses is subject, inter alia, to MGA’s compliance with the “continuity of ownership test”, as that term is used in the context of Australian taxation, at all relevant times. Compliance with this test is determined by reference to ECR’s register of shareholders and the variations thereto that occur over time. The Company considers that at the present time, MGA is in compliance with the continuity of ownership test." These are the key words. Who decides if they comply? when do they decide? How long does it take?
As others I have been holding for some time. Bought my first batch in Crete on the beach. A price I could not resist and thank god I did. As always my finger was hovering over the button to top up but had been watching other potential companies and look what happens. For others not invested well need I say more... Also check out LGO.
Dave the tax loss is £80m at an Oz business tax rate of 30%. Take today's exchange rate and that give an approximate value in GBP of £14m. This has to be realised somehow. The" somehow" is what we now need to hear about. But the release was the "block" and that is now removed. IMO, given them time taken to release, that we will be seeing another RNS soon as to the "somehow".
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