IDA indiana resources limited

Ann: Update on Settlement Agreement with Tanzania, page-6

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    They've paid everything, amounting to $90m they had to under the Settlement Deed, which was effectively a compromise and a recognition that they were in the wrong. If the Settlement is breached they then have to pay the full award which is the extra $36m. This attempt at a tax grab is effectively a breach of the Settlement (There must be a no taxation clause written somewhere inside the deed), so if they don't back down on the tax then theoretically IDA can go for the extra $36m. This tax seems to be a regional tax. I'm assuming that the executive branch of the Tanzanian Govt will put an end to this promptly.
 
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