If there had been a bit more transparency to why the Trading Halt was called, then this last 4 days of BS posts could have been avoided.
The Malian government should take a big breath and have a look around, take Zambia for instance.
Under the previous government regime of botched mine nationalisations causing a drying up of investment/s to the copper industry, the biggest export, tax payer and growth driver for the country the new government is trying to entice big investors back.
Mali is no different, with the operating "gold" mines providing US$3.4B to the coffers, even during the financial stressful ECOWAS sanctions.
The want to sh$t on the door step of mining companies? after the same mining companies that dug deep when the Mali government asked for help in the period of sanctions, with all the miners foregoing utilising tax credits/offsets and paying royalties and taxes that none were obligated to do.
~ FWIW, that exercise cost (my calculations for the Jan - Mar 2020 quarter) FFX circa US$5m, and that was based on 13,000oz of gold production, how much did the total of the rest of the miners contribute --- and yet they keep coming at the hand that feeds them.
Every single town/village that surrounds a mine (operational or closed) was/is provided with sustainable food source industries, ie fish, poultry and agriculture not to mention ditto for schools, medicines. I don't disagree, I actually think it is a good thing and as much as some moan and groan about it, it is written into the mining codes.
Lithium will be the next big earner for them, the "decree" & the mining code 2012 under which Leo operates is all clear, what tax are or are not applicable.
The "free carried" 10% is more involved than them just saying, "yes" they (from my understanding of previous practices) they do not get the free 10% until making a financial decision on the "optional" 10%.
I just do hope it is not related to the other mob .. .. .. .. if it is, the company needs to be racked over the coals .. ..
Im going for the good news, DSO approved and clarity on the tax regime going forward
cheers
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