RE:RE:six
To clarify, because i had a few questions on it. The mining company pays $149,000/year just to be there. Then they pay an additional 5% GROSS, from everything else. So if they produce 1,000,000 Oz of anything, they pay 5% of the metals gross value based on the value at that time. EI, if they produced 1,000,000 Oz of Gold at $1200/Oz. We pay $60,000,000 plus the $146,000.
Sounds like a lot but, I beleive in my rough assessment of value I did last year, I used something like 20-25% as a guess. Curious to see what the estimate would be now knowing what we do.
I am also very surprised that others such as ODIN or FORTRESS have not released tax rates. Perhaps because they are nowhere near the stage of exploration and production that we are. I guess Ecoriente should have?!?