great news

Hi all

The Nigerian government released their 2013 budget overnight and there are some measures included that are very positive for EIO.

In particular the solid minerals sector

See here for the full budget speech:

http://www.vanguardngr.com/2012/10/jonathan-presents-2013-budget/

It states:

"Solid Minerals: Machinery and equipment imported for use in the solid minerals sector will now attract 0% import duty and 0% VAT."

So there are now concessions that will encourage greater activity in the IO sector.
Anyone know who has first mover advantage in the Nigerian Iron Ore sector???

This is a huge positive for EIO as it will reduce the operating costs once the project is up and running.

Lets hope the company are in a position to put this info in an ASX announcement so the wider market is aware.