Copper, Zinc, Gold & Silver - Albania

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Message: Natural Resource Growth Stocks: Wall Street Reporter Spotlights Tirex Resources,

Question reply from CEO

in response to by
posted on Apr 21, 2008 11:20AM
Hello Jim and thank you for your email. Albania is an excellent place to invest, has just been formally invited to join NATO, is a European Union candidate country and just reduced their corporate tax rate from 20% to 10% in an effort to attract and retain growing amounts of foreign investment. Albania has had the same stable Mining Law in place since 1994. It is an attractive law. Within the Albanian system, companies start off with a Prospecting Concession that then converts to an Exploration Concession which then converts into an Exploitation Concession. We had a Prospecting Concession, now have an Exploration Concession and as time goes on we will, success dependent, covert certain areas of the property to Exploitation Concessions. Over time, as exploration occurs, there will be areas of the property that we will grow disinterested in and we will shed these areas. This process of shedding is done during the normal course of any long term and prudent exploration programs anywhere in the world and in Albania it is mandated as per you email. This does not concern us as we will naturally focus, over time, on specific parts of the property that we wish to mine. Regards, Bryan Slusarchuk, CEOTirex Resources Ltd.
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