According the information the company prepared relating to the Cloncurry sale it is stated that they are unlikely to have any carried forward losses as at 30/6/11. Income tax payable is shown as being an estimated $52.5 million for the project.
Tax will not be payable for a while yet. I am almost certain this is the case but would be very happy to be proved wrong!
all this for just one cent, page-3
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