New tax promised by Labor/Greens, page-3

Foxbat - don't understand your comment "go easy" - seems like asking for trouble. The excise is approx. 5 times the GST and we would pay GST on it as well (ie tax on a tax). The cost to companies of running the mine would be ruinous with this additional tax. Additionally - for a deductible expense to be tax deductible you first nee taxable profit - don't see this happening any time soon for RUM - or any other early stage miners that I am acquainted with! This tax will come straight out of cash and will seriously impact the feasibility study.