Hinklestab, you're calculations are wrong!
You are taxing $114m profit at 30%.
The company tax rate is 38% !!!
You also forgot to deduct the deductions the company has spent on the mine, which equate to $30 million.
Which would bring $114 million * 38% tax = 43.32 less $30 deductions = $100.68 for shareholders ! So around 0.38c a share !!!
Another thing is, that SFECO will pay a further 0- $20 million depending on an independent valuation for Koka South. So no, the company was not dudded $20 million as reported.
Hinklestab, you're calculations are wrong!You are taxing $114m...
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