igo moving along nicely, page-8

hi El,

What has made me think twice about moving into STB is the fact that they have to hand 10% of the project to the government of Eritrea free carried.

And that the government can take another 30% of the project at an independently determent price.

So STB could end up only owing 60% of the project with a corp tax rate of 38% + royalties of 3.5 % = 41.5% TAX

But with Potash hot as pancakes and a BHP bid that may not be approved STB will keep attracting interest.
And mix into that the high PGM prices and you have a very potent mix, which would be hard to ignore for those who like to take a punt.





Mining code based on Northern Territory,
Australia, with royalties of:
?X 5% on precious metals; and
?X 3.5% on base metals and salts.
?X Corporate tax rate ~ 38%;
?X Government 10% free carried contributing interest
and;
?X After BFS Government has option to purchase an
additional 30% equity participation interest at an
independently determined price.