RE:How about a unique dividend policy ?There were reasons that McEwen's Goldcorp stored gold instead of sellling and these included:-
- There was no tax on retained gold production, until it was sold.
- In a rising POG market, the company benefits from both the deferred tax liability and the higher price when eventually sold.
Since KL is reported to be having to decide what to do with massive cash surpuses, then a gold inventory may be part of the answer.
The downside it that there would be variations in reported earnings, depending on when gold stockpiles are sold. However, these earnings could be normalised by way of a note to earnings.