They also mention the hidden value in the $24.7 m of tax credits...

They also mention the hidden value in the $24.7 m of tax credits The expert valuation indicates that this will increase to $32.7 from the current mine life.
Since 2010 companies have no longer been prevented from paying dividends when they have nett carried forward impairment and other losses

At current copper prices there should be about $150m of free cash flow after repaying all debts. If that is the case there will be an additional $10m of tax to pay.

They would only need to distribute 67 % of the $150m to use up all the franking credits.

Given that the major share holders want cash out its a pretty sure bet if copper prices hold up we will see dividends of 17.5 cents fully franked up to 25 cents.

That still leaves Steve $50m in cash to turn HGO into a mid tier copper miner with all the blue sky that surrounds the giant pit.

Someone who is into numbers should check mine.