All this concern about Burkino Faso Nationalising the mines. This absolutely will not happen. Let’s sum up what the Governent gets from the mine Tax 30% Royalties 5% Owns 10% Total 45% Production: Gold price $3300US. Cost $1300Ave 410,000ozx $2000(cash after costs)x1.5(USD to AUD) x 45% = $553million AUD approximately Half a billion dollars a year! They are more than happy with that and ….. 500 + locals employed income tax from employees Schools and Community projects
This is a massive asset for the Government as well run and paying all taxes and royalties quarterly so no corporate trickery going on by WAF. Now sure it’s us Shareholders who have paid for it but it is what it is and we get $675 million. Well we get what’s left after the board and Justin take their salaries and share options out annually and of course the payment of debt!
Maybe one day we would get a dividend but not likely.
WAF Price at posting:
$2.83 Sentiment: Hold Disclosure: Held
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