RE: PUBLIC HEEL Hello, Jonggua. I was talking to myself over at the other place. I realize I'm a hopeless skeptic much of the time, but I've got a very big position in RBYC, so how skeptical can I really be? Franky, I am puzzled by the indifferent, even blase, attitude I've encountered regarding mining licenses. My feeling about them is much less one of skepticism than of outright fear, and will remain so until they have a license for the original Mkuvia property, not just for some property they picked up for a song because the original operator thought better of what he was doing. Regarding the taxation issue, I'd actually feel better if the tax rate was MUCH higher. The Tanzanians are going to get their pound of flesh one way or another, sooner or later, and I'd rather they got it through official channels, and that the terms be known up front. Just an example of how it works in another position of mine, MMT.v, which is an oil e&p company operating in Nigeria. 1. The Nigerians force MMT to join a 50-50 joint venture with a Nigerian "partner" company, which is really just a way for connected Nigerians to rake in huge amounts of money without contributing anything. 2. Nigeria takes a 10-12% royalty off the top 3. MMT is forced to use a state-owned pipeline which charges them exorbitant fees (they are trying to get 11%) 4. Nigeria then takes a 63%+ tax on operating income. So, for each barrel oil that MMT produces and sells for $110+, they get to keep about $15. AND I DON'T MIND, because it's all understood up front, and I know the Nigerians are satisfied.