The CGT is being paid on the transfer of the licence from Timbuktu Ressources SA to Lithium Mali SA (LMSA) the transfer was part of the reorganisation of the Goulamina Project assets to facilitate the establishment of the Goulamina Joint Venture.
The Company did not consider that any capital gains tax liability would arise as a result of the reorganisation, but also commented there was a risk that the Malian tax authorities would take a contrary view and they also highlighted that there was a risk LMSA will be liable for capital gains tax in Mali, which may be material and adversely affect the financial position of the Company.
Under the Demerger Deed, Leo Lithium indemnified Firefinch Limited for any loss or damage (including tax liabilities) incurred in connection with the change of control in the Company as a result of the Demerger and the reorganisation of assets.
The Company was also required to indemnify Ganfeng for similar liabilities.
Goodness knows what mining Code nor percent amount we will be paying the tax under, but the 2012 version had CGT at 10%, but I also recall some posts indicating it was circa 15%.
Section 4.2 (e) of the Replacement Prospectus
https://announcements.asx.com.au/asxpdf/20220621/pdf/45b370mv2gxty6.pdf
Hope that helps
cheers
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