AI
RE: The proposed changes to the Bolivian Mining Code -
President and CEO J. Carlesso commented:
"The proposed changes to the Bolivian Mining Code
are very positive as they bring a level of fiscal
and tax stability to the country.
The new Mining Code has the potential to stimulate
investment and should create an environment that
improves financing options for companies of all
sizes operating in Bolivia.
Additionally, we expect that changes to the tenure
of mining concessions will spur exploration activity
and benefit active companies.
We have addressed a letter to the Minister of Mines
and Metallurgy indicating our support for the key
initiatives contained in this proposal along with
the comment that, in our view, policy of this nature
is extremely helpful in clarifying the investment
opportunity in Bolivia and in eliminating concerns
over the security of investments made in
the mining sector."
In our view, the key points of
the Proposed Mining Code as they have been initially
presented are as follows:
1) The scale of the Complementary Mining Tax (ICM) will
not be changed.
2) The current Profit Tax is 25%.
Companies have the option to elect to increase
the Profit Tax rate they pay to 30%, in exchange
for a 10 year guarantee of tax stability.
3) Companies with mining investment in excess of
US$100,000,000 will have the ability to execute
a 20 year "Stability Contract" with
the Bolivian government.
4) ICM taxes can be credited against the Profits
Tax according to a defined scale for metals prices.
5) A single mining concession shall be
limited to 25,000 hectares.
6) There is a three-year time limit to commence
exploration activities once a concession has been
granted.
If exploration or mining activity has not begun
within that three year timeframe then the concession
will expire.
7) As a means of demonstrating compliance with minimum
property expenditure commitments, quarterly progress
and activity reports will be submitted to mining
agencies.
8) The patent application process with respect to
surrounding concessions will be simplified.
9) Annual concession fees will be doubled every
five years.
10) Programs will be implemented to ensure ongoing
worker training.
11) Measures will be implemented to discourage and
penalize corruption.
The proposed review process is designed to create a
mechanism for the government to receive comments
and feedback.
A target date of July 20, 2006 has been set to have
the proposal become law.
Building A Premier Emerging Silver Producer
The company is focused on advanced Silver-Zinc projects
in South America that demonstrate the potential to
receive capital investment and be rapidly developed
to production.
Currently all of its projects are located
in the historic silver producing regions
of central and southwest Bolivia.
http://biz.yahoo.com/iw/060713/0143646.html
Silver -
Higher Highs -
Higher lows -
There is a tide in the affairs of men --
Which, taken at the flood -
leads on to fortune -
http://www.investorshub.com/boards/quotes.asp?ticker=FMNJ
A chance to accumulate an asset at an 80% discount -
the event of the century - for a children mission -
Do not let any volatility shake You out -
the more volatility the higher it will go -
the new trend waves will often be -
162% of the previous correction -
when the weak hands exhaust themselves -
we'll see the next waves up -
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt -
as of Jun 2006:
Unless the United States gets all of its economic
house in order ? -
Gold will become the basic real money again -
(which Gold has been for 1000's of years)
and national currencies will only be money -
if backed by - Gold.
With the exception only of the periods of -
- The Great Gold Standard -
practically all governments of history -
have used their exclusive power to issue fiat money -
to defraud with totalitarian bureaucratic powers -
rob, plunder and to make slaves -
of most the people -
http://www.goldrush21.com/
http://www.usaidbolivia.org.bo/
FMNJ - got the worlds richest Silver Mine -
You finding more FMNJ info on the link below -
http://www.investorshub.com/boards/board.asp?board_id=5406
FMNJ - Silver Dollar Galaxy -
http://news.bbc.co.uk/2/hi/business/5115920.stm
Always make sure to do your own
DD -- don't listen to my dd ---
http://www.franklinmining.com/Home/tabid/1215/Default.aspx
Imo. Thanks for your participations -
Brgds
Bob
In God We Trust
President and CEO J. Carlesso commented:
"The proposed changes to the Bolivian Mining Code
are very positive as they bring a level of fiscal
and tax stability to the country.
The new Mining Code has the potential to stimulate
investment and should create an environment that
improves financing options for companies of all
sizes operating in Bolivia.
Additionally, we expect that changes to the tenure
of mining concessions will spur exploration activity
and benefit active companies.
We have addressed a letter to the Minister of Mines
and Metallurgy indicating our support for the key
initiatives contained in this proposal along with
the comment that, in our view, policy of this nature
is extremely helpful in clarifying the investment
opportunity in Bolivia and in eliminating concerns
over the security of investments made in
the mining sector."
In our view, the key points of
the Proposed Mining Code as they have been initially
presented are as follows:
1) The scale of the Complementary Mining Tax (ICM) will
not be changed.
2) The current Profit Tax is 25%.
Companies have the option to elect to increase
the Profit Tax rate they pay to 30%, in exchange
for a 10 year guarantee of tax stability.
3) Companies with mining investment in excess of
US$100,000,000 will have the ability to execute
a 20 year "Stability Contract" with
the Bolivian government.
4) ICM taxes can be credited against the Profits
Tax according to a defined scale for metals prices.
5) A single mining concession shall be
limited to 25,000 hectares.
6) There is a three-year time limit to commence
exploration activities once a concession has been
granted.
If exploration or mining activity has not begun
within that three year timeframe then the concession
will expire.
7) As a means of demonstrating compliance with minimum
property expenditure commitments, quarterly progress
and activity reports will be submitted to mining
agencies.
8) The patent application process with respect to
surrounding concessions will be simplified.
9) Annual concession fees will be doubled every
five years.
10) Programs will be implemented to ensure ongoing
worker training.
11) Measures will be implemented to discourage and
penalize corruption.
The proposed review process is designed to create a
mechanism for the government to receive comments
and feedback.
A target date of July 20, 2006 has been set to have
the proposal become law.
Building A Premier Emerging Silver Producer
The company is focused on advanced Silver-Zinc projects
in South America that demonstrate the potential to
receive capital investment and be rapidly developed
to production.
Currently all of its projects are located
in the historic silver producing regions
of central and southwest Bolivia.
http://biz.yahoo.com/iw/060713/0143646.html
Silver -
Higher Highs -
Higher lows -
There is a tide in the affairs of men --
Which, taken at the flood -
leads on to fortune -
http://www.investorshub.com/boards/quotes.asp?ticker=FMNJ
A chance to accumulate an asset at an 80% discount -
the event of the century - for a children mission -
Do not let any volatility shake You out -
the more volatility the higher it will go -
the new trend waves will often be -
162% of the previous correction -
when the weak hands exhaust themselves -
we'll see the next waves up -
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt -
as of Jun 2006:
Unless the United States gets all of its economic
house in order ? -
Gold will become the basic real money again -
(which Gold has been for 1000's of years)
and national currencies will only be money -
if backed by - Gold.
With the exception only of the periods of -
- The Great Gold Standard -
practically all governments of history -
have used their exclusive power to issue fiat money -
to defraud with totalitarian bureaucratic powers -
rob, plunder and to make slaves -
of most the people -
http://www.goldrush21.com/
http://www.usaidbolivia.org.bo/
FMNJ - got the worlds richest Silver Mine -
You finding more FMNJ info on the link below -
http://www.investorshub.com/boards/board.asp?board_id=5406
FMNJ - Silver Dollar Galaxy -
http://news.bbc.co.uk/2/hi/business/5115920.stm
Always make sure to do your own
DD -- don't listen to my dd ---
http://www.franklinmining.com/Home/tabid/1215/Default.aspx
Imo. Thanks for your participations -
Brgds
Bob
In God We Trust
