Ben
as you have been nice to me I will tell you.
Source - Peter stachan report july 12 on MAD website
Here goes
from each $100 of revenue mad have to pay
25% royalty to land owner
leaves $75
Then operating costs from report $18
leaves $57
less state taxes 7.5%
leaves %52.73
less corporate tax 34%
leaves $34.8
less something for corporate costs used $1.8
so left with $33
so cash costs are 67%
confirmation, page-53
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