GXY 1.65% $1.19 galaxy resources limited

Galaxy is currently exploring the opportunities of a potential...

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    Galaxy is currently exploring the opportunities of a potential refund of turnover taxes paid and rollover relief on corporate tax payable


    • US$67.3mm tax payable in May 2019



    Option 1

    Galan GLN raised $4m + $1m current cash.


    Current market cap $40m. Offer $50m.


    $50m less 30% tax offset = $35m (of which $5m is cash)

    net cost to GXY Au$30m or US$21




    Option 2

    Lepidico LPD $8m current cash.


    Current market cap $120m. Offer $150m.


    $150m less 30% tax offset = $105m

    Less 12% already owned ($18m) = $87m (of which $8m is cash)

    net cost to GXY Au$79m or US$56m



    Note: Not sure if rollover relief on corporate tax for asset acquisitions requires to be Argentinian domicile.



    Management have said they are considering rewarding shareholders.



    Option 3


    Buy back



    The key to this quarterly will be tax minimisation strategies

    Last edited by ljcamp: 15/04/19
 
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