RE:RE:Negotiations"While the Company continues to believe its tax filing position based upon the APA is correct, should the Company ultimately be required to pay tax on its silver revenues based on market prices without any mitigating adjustments, the incremental income tax for the years 2011-2016 would be in the range of $150 - $170 million, before interest or penalties".
I think the silver streaming agreement with Wheaton is one of the worst I have ever come across. Isn't the guy currently running Primero responsible for purchasing San Dimas from Goldcorp in 2010 at a price of roughly half a billion? The Mexican tax authorities and Wheaton both have their boots firmly on the neck of this company and it would seem if they had any intention of letting up they already would have. Why would any "white knight" appear and take on all the financial burden of this silver streaming mess. If Goldcorp had some financial interest in keeping that streaming agreement going with Wheaton, that would be the only one I could come up with. Wheaton might want to keep the lucrative streaming agreement going but I don't think they want anything to do with mining or with the tax authorities. Besides that they have made out like bandits, why do anything to put that at risk.
I was a very foolish and lazy Brigus shareholder and now looking at a pretty complete loss on that investment.