Great to have this presentation.
It spells out what the company is doing and where it is going.
A large emphasis on cost reduction. It is with a relief that it seems directors representing the two controlling shareholders are acting with the interest of the company and not working together to milk the co for their joint benefit. That was the major concern which was the reason the share price went below 6c.
Great to see mention of $69.7M franking account balance at a time we are printing money.
Mention of 50% corporate tax rate, but exploration and development is expensed which effectively is only costing us 50c in the $1.
There was previous mention that May was unhedged, but this presentation confirms May 50% hedged (thought it was too good to be true). Drops to 30% in Sept. Unhedged December onwards.
TAP Price at posting:
7.6¢ Sentiment: None Disclosure: Held
