Laurion Mineral Exploration Inc. V.LME

Deal by year end?

[Anthony13]

Any thoughts .... I don't think we are as close as people think .... I'm a half cup full person but I hope at least by year end this is wrapped up ....

[matlas]

I would think that Roger and Cynthia will strive to have this deal CLOSE by the end of this year in order to avoid the application of new rules re AMT ('alternate minimum tax") which will have the effect of increasing tax rates for individuals with very large capital gains.

[Anthony13]

Thanks for the insight....i appreciate it

[Neil68]

Very good point matlas. I am not familiar with the AMT so did some googling, but I still don't know how much of a tax increase this would be. Is it possible to clarify what the increase would be for every $1M of capital gains? I also thought I heard somewhere that both Roger and Cynthia have foriegn residency outside Canada. Not sure whether this is true or which country.  If that is

[matlas]

As far as I know, Roger and Cynthia are still Canadian tax residents, but I gather from comments that Roger made on FB that they are exploring future move to Panama. Of course it is not just them, but other members of the Board. The math is tricky, and not sure if Ontario will follow suit, but when I looked at it quickly, it seemed like it was almost equivalent to increasing inclusion rate to 2