Ann: US$65m for 5% sale of Goulamina and Continued Suspension, page-383

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dazaliam

6,219 Posts.

2015

29/01/24

00:32

Post #: 72100945
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Originally posted by fooca ↑

Why have you added a 20% penalty, something I missed in the Mining Code?

Considering Leo Lithium has indemnified Firefinch for any tax liabilities in relation to the change of control on the reorganisation of assets so as to implement the Joint Venture, I do not think that Firefinch would be liable.

Although the capital gains component should be a liability on FFX, but, it is a tax nonetheless and they have been indemnified for any taxes.

In simpler terms, I look at it as stamp duty when purchasing a house?

Saying all that, it was only my musings as it all seems to align?

@JackSpark as this potential of a settlement is only a week old, it may have been a part of the commission and/or findings?
Given that the 5% additional sale coincides with funds needed for any (potential) settlement, it would be plausible to think that it is something that wasn't on the agenda prior but has popped up during all the current negotiations? as it has not been referred to in any previous announcements?

I think they have told us all they can at the minute in regards to the potential settlement though?

Hopefully when there is a settlement, it will include all the outstanding items;
~ DSO
~ permit for power generation and what ever else they have outstanding
~ government 10%

cheers

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I'll run down the street naked if they only take 10%. DSO pointless at these prices, test roads during early production/ramp-up. The power permit is a given if they want 10%, no permit = no revenue!

LLL Price at posting: 50.5¢ Sentiment: Buy Disclosure: Held
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