VAH is a red herring, but yes in general, deferred tax assets are not useful if you never make a profit. Having another look, Income Tax Payable is a line item in Current Liabilities in the balance sheet, amount ~USD67mm. Again, not a tax expert and there isn't a note for that item but current liabilities are payables in under a year and last time I looked, paying a tax liability requires cash, so this perhaps narrows down the range of how much cash will be chewed up by income tax. It's quite nice that they managed to book a pretty large profit that overwhelms anything they've ever done in terms of mining (so far).
GXY Price at posting:
$2.15 Sentiment: None Disclosure: Not Held
