gself, That is, actually, wrong. And somewhat irrelevant. Back...

gself,

That is, actually, wrong. And somewhat irrelevant. Back when Coeur did the feasibility study on Bolivia, neither the ICM nor the IUM were proposed.

The ICM would have been a tax on mine production for everyone (including the individual miners in Bolivia). The IUM only hits corporates.

Additionally, while this would have an effect on sp, due to reduced future expectations of returns, it probably isn't going to impact on the carrying value of the net assets of the company, as the balance sheet only carries expenditure. In that respect, it was probably a bit irrelevant of me to bring it up.

My point on Kensington, however, remains.