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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America

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AGORACOM Wire - Wednesday February 15th, 2012

Breaking News ....

Lomiko (LMR: TSX-V) to Complete 43-101 Report on Previous Drilling at the Quatre Milles Graphite Property *CLIENT* Read More

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Strike Graphite Corp. (TSXV:SRK) Acquires Wagon Graphite Project in Quebec in Vicinity of Timcal's Lac des Iles Graphite Mine *CLIENT* Read More | Profile

Strike Graphite goes "Beyond the Press Release"

McLaren Resources (CNSX:MCL) Drills 7.0 Grams Gold Over 7.4 Metres at the TimGinn Property Located Adjacent to the Hollinger Mine *CLIENT* Read More | Watch Beyond the Press Release

DONNER METALS INTERVIEW: David Patterson Discusses the Bracemac-McLeod Mine Development Beyond the Press Release

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Message: NICE READ ABOUT MINNING IN VZ

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theceltbeserk

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Re: NICE READ ABOUT MINNING IN VZ

posted on Nov 02, 07 05:29PM

What was not clear in that interview was taxation. Is the 5% the royalty and then Rusoro would still owe taxes on the profits, or was it a pure 5%?

I tend to believe Rusoro will still owe taxes. KRY's royalty is currently at 6% with current Gold prices, plus a 35% or so tax rate.

The other option is that the concession passed to GF from Bolivar Gold was at the 95/5 deal, which was why VZ decided to look into the GF transfer to Rusoro. Due to the grandfathered nature of the contract, and Rusoro's relationship and connections, VZ may have just decided to uphold the old contract of the concession.

I believe Agarapov said this was a one time deal.