RE:tax credits again
Flipping through some old notes for other ideas ...
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Moriarty notes the ANX discussions with management of RCG at doing a merger.
He refers to Dufferin, but not Tangier or Forest Hill.
He does NOT refer to the tax credits or the balance sheet.
Interestingly he considers gold mines at $10 per ounce to be absurd [low].
Goldboro was valued at $15/oz in the Orex merger.
Note: the 0.67x discount that ANX was selling at compared to $15/oz
https://www.321gold.com/editorials/moriarty/moriarty112618.html
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Hunter Capital Advisors included tax losses as a key assumption their model in March 2017.
pg 4
key assumptions of the financial model ...
$10 million of tax losses
https://gallery.mailchimp.com/4bd4e4f1499417a7a0bac5363/files/3c2e4df4-83df-4745-a5e3-6a3af22c48be/RCG_HCA_20170303.pdf
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