Mission,Tried a few other things with my simplistic model, but...

Mission,

Tried a few other things with my simplistic model, but the jist of it is that with the 40% plus the normal 28% tax the best you get is a govt take of 57%, but I am finding even with lifting the 6% to 11% and using the (transitional)accelerated depreciation it's hard to configure govt take much below 65% of NPV. Nevermind the nominal tax rates, it's all NPVs the miners and financiers work on, and on that basis the govt already get's approx 50% of project NPV by my reckoning.

Yes to get back to nuetral in terms of new projects they"ll need to drop the 40%, but I can't see them doing that, but with the desperate and blatant lying wrt the 13% and 17% tax takes for miners.

This really is John Key's best opportunity for NZ to catch up with Australia economically, for all the wrong reasons, you have economic vandals in power. Well at least slow the widening of the gap. We"ll welcome refugees from socialism. Rudd & co. have been creating so much uncertainty in so many areas, telecoms, electricity, resources, and no doubt banking before they finish. Two years ago I saw them as a welcome change.

Great to have our mine in the stable, if somewhat sleepy jurisdiction of Laos, and I am sure these are the places the Chinese will be rushing to for secure and reliable resources .

I am seeing a scaleback of exposure to the Australian govt impacts prudent. Looking for another PNA (in any commodity). Will be scouring the TSX soon.

EL