Ann: Response to ASX Query Letter, page-22

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mcfj

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15/03/19

23:04

Post #: 37781497
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Originally posted by Janusi: ↑

Company says:
18. This information is incomplete and confidential as it is presently being discussed with the SI Government. Generally, a royalty is payable to the Solomon Islands Government for the extraction of nickel ore, as are income taxes and import
duties on various items of plant and equipment.

I don't know what is confidential and I got already different information from Ministry of Finance and Treasury.

Any company that is interested in this type of business will receive information from the Ministry of Finance and Tresury that export tax for bauxite and nickel ore is 0%.
Royality is currently 3% from FOB value and 60% of this sum is paid to landowners and the rest to the central and provincial goverment.
Income tax for companies is 30%.

There are plans to raise the royality up because the mentioned 3% was used for "hard rock mining" for St. Barbara in Goldridge. Open pit mining are low-cost operation, which is why the government wants to review the rate.

AVQ says "it is presently being discussed".

To my knowlage and in my opinion first person to discuss about is Minister of Mines but the moment CEO is discussing different topic with Tovosia in newspaper.

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"I don't know what is confidential and I got already different information from Ministry of Finance and Treasury."

Here we go again! (Agendas, Letter of demand, emails,...) Humour me...what did you hear? (Please Don't)

Minister of Mines...Tovosia... How's that all working out ? 6000? If the country mines nothing how much is 30% of that?

AVQ Price at posting: 6.9¢ Sentiment: Buy Disclosure: Held
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Ann: Response to ASX Query Letter, page-22

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MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

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