No excuses here anymore as Retained Earnings at 31Dec17 were $56mil up from $1mil at 31Dec16 and could be over $100mil at 30Jun18 even after the payment of the dividend of $11.5mil at the end of March.
The great mystery is the amount of franking credits that they currently have available as they don't disclose this figure in the Annual Report and they haven't been paying any tax in more than a year.
Pellet Price, page-457
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