to hold or not to hold, page-10

I am still of the belief that the tax shouldn't have an effect on KZL, although I'm no accountant - HOWEVER if the market believes that there will be an effect then the SP will be affected until clarification occurs. Here is a table which may be of some help:

EFFECTIVE TAX RATES ON A HYPOTHETICAL RESOURCE PROJECT

*1st column=Rate of Return
*2nd column=Effective tax rate under royalties plus 30% company tax (existing scheme)
*3rd column=Effective tax rate under RSPT plus 28% company tax (proposed new scheme)

6% 45.4% 28.0%
10% 40.9% 39.5%
15% 38.7% 45.3%
20% 37.6% 48.2%
25% 36.9% 49.9%
50% 35.5% 53.3%

Hope this helps :)