KAT Exploration Inc (KATX)

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Rudd gives ground on mining tax
SHANE WRIGHT, ECONOMICS EDITOR, The West Australian June 19, 2010, 4:25 am

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WA mining bosses missing in Africa
June 20, 2010, 3:44 pm
Nine Australian mining executives are missing in west Africa after their plane disappeared.

Board members from West Australian-based iron ore miner Sundance Resources have been in Cameroon in the past few days speaking with officials about the promising Mballa project.




AND NOW

Diggers killed in Afghanistan
June 21, 2010,
Australia has reportedly suffered a "number of casualties" in Afghanistan, with the federal government set to release details shortly.
7News understands as many as three soldiers have been killed in the incident, involving the Special Operations Task Group, which occurred earlier today.
The Minister for Defence, Senator John Faulkner and the Chief of the Defence Force, Air Chief Marshal Angus Houston, will hold a press conference in Canberra at 5pm.
Two Australian soldiers died earlier this month in a roadside bomb blast in Afghanistan.

The Federal Government will hand a major concession to the mining sector by slapping its super profits tax on a resource as it comes out of the dirt, rather than after it has been processed and become a high-value commodity.

In a move aimed at winning support for the 40 per cent tax from most miners while protecting its expected revenue stream, the Government will use its current round of negotiations to offer miners a deal where the tax hits profits as resources are ripped from the ground.

The decision will benefit those miners that spend vast sums on processing their commodities, such as those involved in magnetite iron ore, mineral sands and gold.

The value of these commodities is only realised after expensive processing. In some cases, the raw value of the mineral is one-sixtieth of that reached after it has been processed. However, it would still leave heavyweight Pilbara iron ore operators BHP Billiton and Rio Tinto exposed to the full impact of the tax as their mineral shipments are only lightly processed.

The development follows a meeting between representatives of Chevron, the company leading the $43 billion Gorgon project, and Prime Minister Kevin Rudd, Treasurer Wayne Swan and Resources Minister Martin Ferguson.

It is the second meeting this week involving firms tied to either LNG or coal-seam gas and points t

The Australian Institute of Superannuation Trustees, which represents the public, corporate and industry super sectors, said a council advertisement showing a 74-year old arguing the proposed tax would be a like a grenade on his superannuation had gone too far.

The institute said the advertisement contained inaccuracies over superannuation, its investment in the mining sector and how super returns were being or could be affected by the tax. It also speculates about the future performance of superannuation without issuing a required disclaimer for people to get independent advice.

Separate institute research released yesterday showed that since the resources super profits tax announcement, a person fully invested in Australian mining shares would be $600 better off than if they had invested across all sectors of the Australian Securities Exchange. A spokesman for the Minerals Council defended the advertisement, saying it was a small part of its overall campaign.


Subject: Re: Ken I hub is deleting almost every conversation ...I thnk they want to join there leader in prison
To: "Bob Nordberg" <[e-mail]>
Date: Sunday, March 28, 2010, 4:50 PM


Bob
We are going to be just fine. Maybe just lay back a little and let some things take its course. You and our loyal supporters have defended Kat in a most honorable and fearsome way, like a KAT defending her cub. Yes, we may have been like a young cub that needed some backing. However, like all younglings we are growing and rapidly able to withstand the attacks of other predators and soon, all will see that yes, we are that KAT.
With that said, lets not forget, if some of the posting are correct that people like Gump who has a son trying to run a public mineral exploration company in this very hostile environment it gets difficult and we wish them all well. Success is often measured by the character of an individual and life is tough. We can only wish everyone in this industry all the best and as our slogan on our new company cards says "We mine our business, and we hope they mine theirs"

K Stead
The truth will set you free!