BF Govt already takes the lion's share of all revenue generated by WAF. 7% right off the top line in royalties, 10% free carry, 27.5% corporate tax rate...then add in all the sales taxes, payroll taxes, fees and levies etc that the company incurs to run the show over there...then add in the income taxes that all of their well paid workers pay on their wages (jobs that would likely disappear if WAF fail)...plus all the positive flow-on wealth effects in their community as all of this money trickles through their economy.
Only a truly stupid govt would seek to undermine a socially responsible company like WAF when they already extract the vast majority of the economic value from the mine without having to take any risk whatsoever. Imagine if the Govt tried to nationalise it and run the mines themselves...they'd definitely skimp on capital works (politicians rarely think about long term investment, they just want short term cashflow to bribe people for electoral support), they'd likely grossly mismanage it, the revenues would drop, total disaster! Why bother meddling? Far better off to leave it to the professionals and just sit back and get paid.
But I guess Governments often do stupid things, they just can't help themselves. How do you price this irrationality?
WAF Price at posting:
$1.63 Sentiment: Hold Disclosure: Held
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