I believe the government needs to raise that ceiling to make the mining tax viable. I agree that the tax is necessary - I've wondered for years why any company can just take stuff out of the ground almost for free!
The current effective super-profit of 6% is a joke and it should be doubled or tripled - then it would be fair, IMO.
At this stage its still early in the game and both sides are playing hard-ball - which they should I suppose - but in the end a compromise everyone can live with should be possible.
What is disgusting is the political games being play on the mining side and somehow being supported on HC - but hey, that's the way it is. I hope for a good outcome for all parties.
As to LYC, it has funding, it has the markets and short of a world wide disaster, it will succeed and do quite well, thank you. All IMO of course...
LYC Price at posting:
52.0¢ Sentiment: Hold Disclosure: Not Held
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