HGO

1.75%

5.8¢ hillgrove resources limited

HGO Position, page-54

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mwilson25

1,145 Posts.

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23/11/18

13:34

Post #: 36617919
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Originally posted by curiouswon: ↑

Here is my calculation of the value of the value of our franking credit balance (on the basis that it would be used to provide a fully franked dividend(s) to all shareholders.
Number of Shares on Issue: approx 568M (maybe 590M if all performance rights vest)
Franking Credit balance: $21.3M (note 24 to accounts)
Franking Credit balance (FCB) per share: 3.75cps
Dividend which can be fully franked (at 30% tax rate) using this FCB: 8.75cps
Cash required by company to pay this dividend: $49.7M
Grossed-up value of this dividend to shareholders: 12.5 cps
So to be able to pay this dividend to all shareholders and so use and exhaust the valuable (to shareholders) franking credit balance, HGO needs to have both $49.7M in cash plus the ability to fund its ongoing business.
Note that all profits over the next two years (at least) will not incur tax as HGO has $223M of accumulated losses to use (note 24).
It is going to be interesting to see what means and timing that directors can find to distribute this to shareholders - but for me fully franked divs to all holders is fairest, and asap is the correct timing.

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Thanks for setting me straight on the details. 50 million is going to be a tall order to raise for a franked divy by the end of the FY. I suppose if the PHES paid big $$ we might make it. Good to know there are plenty of tax losses for this FY and moving forward.

Last edited by mwilson25: 23/11/18

HGO Price at posting: 8.8¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last 5.8¢		Change 0.001(1.75%)		Mkt cap ! $108.9M

Open	High	Low	Value	Volume
5.7¢	5.8¢	5.7¢	$40.88K	712.2K

Buyers (Bids)

No.	Vol.	Price($)
5	637837	5.7¢

Sellers (Offers)

Price($)	Vol.	No.
5.8¢	431267	5

View Market Depth

No.	Vol.	Price($)
1	49767	0.080
2	230000	0.079
2	136415	0.078
1	97825	0.077
2	600000	0.075

Price($)	Vol.	No.
0.083	137770	2
0.084	288879	3
0.085	2009000	2
0.089	229500	1
0.090	76002	3

Last trade - 15.34pm 22/11/2024 (20 minute delay)

HGO (ASX) Chart

HGO Position, page-54

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HGO Position, page-54

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