Does the tax losses FMS has built up, over the last 16 years,...

First 4 Last

Share
Profile

Follow
wales1

464 Posts.

45

19/12/18

11:59

Post #: 36905037
Share

Originally posted by northers ↑

Originally posted by sailingkid
I attended the 2018 FMS AGM and during the latter part of the Nov.20^th 2018 meeting Mr McAdam stated that “Ournext most excitingannouncement is controlled by the JORC and the ASX and we haveto check a number of boxes before I can tell you what it is”.
Mr McAdam’s statement followed these points of achievements madeduring the previous 12 months ;
· Established that PIOP has a Detritalore that is a valuable product which canbe mined with known technology that can add to the viability of thebusiness which effectively changes the cut off point from 50% to close to 40%.”
· Increased the resource with asubstantial impact on the viability,
· Reduced the amount of cover whichincreased the viability of the mine byreducing the cost of the mining operation,
· Sorted out the water program andis not an issue now, adding significantvalue to the whole operation,
· Increased the amount of Vanadium,
· Started a gold program which isnot a bad product in the market, and
· Disposed of some of the tenementsthat are not productive for FMS.

On the other hand during theformal part of the FMS AGM Mr. Warburton made numerous statements including “webasically have an isolated iron ore deposit and it is low grade” and “we have astranded asset”. These statements were faithfully recorded in the 21/11/2018 edition of The West Australian (Page 70) as “Flinders, which holds the big but low-grade Pilbara iron ore project” and “We have a low-grade, isolated deposit”.

The FMS ASX Announcement about the Appointment of CompanySecretary the day after the 2018 FMS AGM, included the statement “FlindersMines Limited is an ASX-listed exploration and development company focused on the commercialization of itslarge, high quality hematite resource – the Pilbara Iron Ore Project (PIOP).”

In my opinion this could be one of the reasons why this de-listingis being pursued before this “MostExciting Announcement” is made.
So is there a potential that information hasn't been released to ASX?

Expand

Does the tax losses FMS has built up, over the last 16 years, end when FMS delist?It must be close to 80 million dollars.Or can Todd still use it as a tax deduction.

FMS Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

Reply

Top Stories

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 3 more messages in this thread...

First 4 Last

Add FMS (ASX) to my watchlist

Does the tax losses FMS has built up, over the last 16 years,...

Top Stories

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Breaking news: New opportunities for investors & companies - HotCopper opens to capital raising!

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Featured News