Fearing that Kingsrose may get clobbered by the Indonesian government's recently announced 20% minerals export tax, I wrote to the company to inquire what impact the tax will have on them. There reply follows:
Dear K,
Thank you for your email. I apologise for the late reply as we have been enjoying a long weekend here in WA.
The Export Tax Regulation doesn't affect Kingsrose or its current operations. The Indonesian government introduced the tax to encourage down stream processing, therefore unrefined products such as concentrates and bulk commodities — copper or nickel concentrates or bulk direct shipping iron ore or coal will attract the tax, whereas refined products won't.
Kingsrose produces refined gold and silver bullion within Indonesia, therefore our products will not be subject to this Export Tax.
Please don't hesitate to contact us should you require further clarification, or have any additional queries.
Kind Regards,
K
KRM Price at posting:
$1.31 Sentiment: Buy Disclosure: Held
