Ann: Blackstone Discovers New Viper Nickel Zone at Ta Khoa, page-88

AMR were covering taxes by the offset of low cost mining so effectively it evened out, although they were near completion of scoping a downstream plant (Matte @ circa $30M cost) to bring the export duties down to 10% which would have bought them into good profits upon payback as they outlined in the tech report, even at the low nickel price at the time. This eludes to the point that BSX could cheap out on the downstream (Matte v’s Sulphate) and achieve the same result tax wise but Ecopro are our customer and the Vietnam gov’t will akin to the extra investment.

Norilsk tried to clam it, AMR rescued it, PALA tried again to abuse it, Stephen saved it and now we are very lucky to have it - just have to look up for vultures.

https://www.mining.com/norilsk-nickel-offers-22-million-for-asian-mineral-resources-limited/