IRN indophil resources nl

In a nutshell, The Philippine government to take a percentage of...

  1. 19,493 Posts.
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    In a nutshell, The Philippine government to take a percentage of net profit as any shareholder would get, and they also want a percentage of **gross revenue** regardless of profitability, but they also want an INCREASED percentage of net profit should metals prices "rise". lol. This is worded loosely as 'extraordinary' so they can take whatever they want whenever they want.

    No wonder Glencore wants out. IRN should get out also!

    Why isnt a net profit percentage good enough?

    Why would anyone invest in the Philippines when you are only guaranteed losses and risk with minor profits of a few percent per year return when you could earn that from a bank deposit with zero risk.

    Not surprised someone is shorting this, there is no future for mining investment in the Philippines.

    http://business.inquirer.net/164718/trade-officials-rush-bill-to-ease-miners-anxiety

 
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