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Euro Sun Mining Inc T.ESM

Alternate Symbol(s):  CPNFF

Euro Sun Mining Inc. is a Canada-based mining company. The Company is focused on the exploration and development of its 100%-owned Rovina Valley gold and copper project located in west-central Romania. The Company holds the Rovina Valley Project through a mining license which covers a total of 27.68 square kilometers (km2). The Rovina Valley Project consists of three copper-gold porphyry systems referred to as Rovina, Colnic and Ciresata. The Colnic Deposit is located approximately 2.5 km south of the Rovina Deposit and the Ciresata Deposit is approximately 4 km south of the Colnic Deposit. The Rovina gold deposit holds about 400 million tons of confirmed resources containing 7.0 million ounces of gold and 1.4 billion pounds of copper.


TSX:ESM - Post by User

Bullboard Posts
Post by Kamoozon Dec 17, 2017 6:50pm
92 Views
Post# 27174839

Translation Part III

Translation Part III
 1. Impact on competitive environment and state aid
  
 At the level of the local economy, by adopting the present project and implicitly by the entry into force of the concession license, the volume of the production of copper ore containing gold and the products obtained from the processing of this useful mineral resource will increase. Also, competition on the local copper ore market with gold content will increase.
 The present draft normative act has no impact on the state aid field, without a state aid component.
 
 2. Impact on the business environment
 a) expected direct and indirect benefits
 b) direct and indirect costs of economic operators1.
  
 a) The draft normative act does not refer to this subject.
 b) The draft normative act does not refer to this subject.
 
 The adoption of this normative act will have a positive social impact, at least on the local labor force, which may consist of hiring specialized personnel in the field of exploitation activities, leading to the increase of their incomes. The draft normative act is not conducive to improving, increasing the efficiency or quality of the service network.
 
 4. Impact on the environment a) Impact on the use of natural resources
 b) impact on protected species, natural habitats, protected areas and landscapes c) impact on the quality of the environment
 
 a) The mining activity of the copper ore containing gold will lead to the utilization of the useful mineral resources and implicitly to the decrease of the mentioned reserves related to the exploitation perimeter bounded by the license.
 b) - c) The impacts of the exploitation activity covered by the concession license, protected species, natural habitats, protected areas and landscapes, as well as environmental factors, respectively, air, water, soil and the local community, shall be determined in accordance with with the legal provisions in force in the field of environmental protection and water management.
 
 Section 4
 The financial impact on the consolidated general government, both short-term, current and long-term (5 years)
 
 3. Financial / plus impact, of which
a)        bugetul de stat.
b)        bugetele locale
 
 a) The financial impact will be positive, because the holder of this license, S.C. SAMAX ROMANIA S.R.L., as a consequence of the current running of the mining exploitation activity will be obliged, according to the provisions of art. 44 par. (4) and art. 45 par. (1) lit. a) and c) of the Mining Law no. 85/2003, as subsequently amended and supplemented, to pay to the state budget:
 annual tax on mining exploitation
 34.180 lei / km2;
 - the Muuera royalty, which represents a 5% share of the value of the mining for non-ferrous ores, namely a quota a percentage of 6% of the value of mining production
 for noble metals, in lei equivalent.
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