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4.2¢ magnis energy technologies ltd

Thinking about this further the 1% clearing fee for mineral...

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Trommel

2,013 Posts.

465

09/09/17

08:59

Post #: 27102978
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Originally posted by Trommel ↑

The way you have written your post makes it seem as fact. Perhaps you can post up the announcement that backs up what you have said?

What we know right now:
The Tanz Gov receives 5% of UTZ as per the MDA (might be re-negotiated though)
The 1% is a clearing fee on the value of the minerals exported which I see as like a tax not an additional 1% ownership of UTZ

What might happen:
Have to perform an IPO to offer up to 30% of UTZ (Company believes this unlikely to occur as it unfortunately doesn't meet listing requirements)
The MDA could be renegotiated to increase the Gov 5% anywhere up to 16%

The 30% Corporate tax is on any UTZ profits (not sure how much that will equate to though

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Thinking about this further the 1% clearing fee for mineral exports (graphite leaving the country) may not apply to UTZ if MTT are buying the low TGC% concentrate to further process? MTT operates in Tanzania co-located at the mine I believe so no export fee will apply to UTZ.

If anything MTT will incur the 1% clearing fee on it's exports assuming the products produced are classified as minerals

MNS Price at posting: 42.0¢ Sentiment: Buy Disclosure: Held
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