twiggy on inside business, page-27

I begin to think you are just havin' a good laugh 123enen :D
So the twigster is lying on TV? I doubt it! The currency markets are telling a lie too? Money has pulled out of OZ... that is real!
'preliminary' studies already show many projects are unviable or value calcs are slashed with the tax reform factored in. So the current risk is surely that projects will be ditched.

And here's a snippet of Showman's (aka Tony Schoer) from the PLV board msg #5371339, do you think he is full of hot air (aka lying) too?


"the tax is a joke and I will fight it as a small player... this is not a fair tax at all.

now do I think it will be passed? no I don't in its current format. Are PLV shareholders happy if I begin to pay a much higher tax rate on super profit when I earn more than the long term bond rate? He has to be kidding? The weighted average cost of capital (the amount needed to justify capital expenditure) is at least 12.5% probably 15%. Why is this not the level before super profits are earned?

My personal opinion is that the Libs are about to get a zillion dollars from the industry to fight the tax. I can tell you one thing....mining companies have to ensure shareholders get an adequate return for their dollar...if the tax comes in there will be many shelved projects, and the unions better get ready for job losses and lower pays. gone will be the days when a truck driver earns $100K+

If they don't accept this then the mining industry is in serious trouble in this country."