RE: FeVFrom the Maracas Feasibility Study (Sept. 2008):
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The Project is subject to the following Federal tax being levied.
?Federal income tax rate of 25% is applied to the life-of-mine duration. An incentive is in effect that permits the Federal tax amount to be discounted by 75%.
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The Project is subject to the following royalties:
• Mineral Research Corp. of the State of Bahia (2%)
• CANCAP (2.55%)
• State of Bahia (2%)
• Landowners (1%)