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$3.51 galaxy resources limited

POSCO Joint Venture, page-47

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Kcheng

524 Posts.

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26/03/19

10:17

Post #: 37883094
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Originally posted by ljcamp: ↑

IMO we will see:

GXY - Takeover GLN and acquire additional tenements int he south of SDV.

This will reduce the tax bill US$84.5m in May 2019. "Galaxy is currently exploring the opportunities of a potential refund of turnover taxes paid and rollover relief on corporate taxpayable"

Rollover relief on corporate taxpayable - CGT payable can be offset with reinvestment into new acquisitions.

This will effectively replace northern tenements sold to POSCO say Au$50m as current market cap on GLN is Au$27m. The tax will offset 30% of this so Au$35m cost to replace northern tenements which sold for US$280m.

The end result will be POSCO and Galaxy 50/50 on total northren/souther/acquired GLN tenements, with POSCO to Fund the full US$450m CAPEX.

MC to supply the down steam in South Korea.

DYOR not advice. Cant wait for a deal to be reached.

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Absolutely brilliant!

GXY has a bright future ahead .

GXY Price at posting: $1.94 Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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