If the RSPT does get through I am sure it will be watered down....

If the RSPT does get through I am sure it will be watered down. Mike Rann at the SA Paydirt Conference said that his Govt would be happy to argue a case for the miners(knowing how important new and expansions to projects are for the Stae economy).

The 30% rebate on exploration is like a 30% subsidy so this would be a real positive. At present exploration expenses can only be offset against profits. So for exploration companies yet to reach production and profitabilty this is good. I can't recall miners and exploration companies having a better deal than this from the Feds along with some additional direct State Govt funding support for exploration.

Also I think in the "true spirit" of what a "super tax" is we will see it only cut in above certain profit levels i.e. during boom times.

I think if it gets through it will have real positives for junior miners through exploration and royalty rebates, infrastructure support etc.

From TTRs point of view it will mean support for onging exploration to grow the project life expectancy and improved profitability beacuse of royalty rebates and treatment of project capital expenditure during the early production years while it is effectively return of capital and not taxable.

While all the detail of the proposed super tax have not been decided, I don't think TTR will have anything to fear in fact I think it will be of benefit - if is does all happen.

I don't think Dr Ken Henry's intentions would have been to put an impost on miners that would threaten the industry. I think it is more about sustainability of the industry and support for growth through exploration in "this country".