Nice twist of my words, I've noticed you do that a lot.Topper wrote:LOL UK
You believe companies should be forced to operate at loss while being taxed on the gross value of their loss making operations.
I believe that taxes are due on profits.
I believe that when a company secures the mineral rights whether by lease or title or claim they have obtained an inherent value that is a tradable commodity.
I think your painted losses are much the same as banks buying and selling debt amongst each other
I believe that you believe if you made ten million dollars but could have made twelve million, you actually lost two million.
I believe you try to sell that as a loss and expect a tax credit and a pat on the back for creating jobs.
Are you demonstrating your expertise of mining terms to prove that I should buy your arguments?Topper wrote: Is this why Commie Red Dave bought Ocean Falls? Panco Poultry? Swan Lake Potatoe Chips?
Did you know that ore is an economic term for rock that can be extracted at a profit?
Did you know that a reserve is defined not just in terms of grade and tonnage but also by a cutoff grade? That the cutoff grade is defined by commodity price, mining and engineering costs, social economic cost, and taxation costs?
Do you know the difference between mineral title and a mining lease?
Do you know the difference between inferred, indicated and measured?
Do you know that the grade varies within a deposit?
Do you understand anything of the time value of money?
The point was already made that mining is speculative. I'm fairly confident that Scrooge McDuck has a complex way of counting his pennies.
How much does it cost to get out of the ground versus how much does it return on the market. Many factors indeed.
Except we aren't talking about the tax a mining company should pay for what it physically produces. We are talking about why should a mine get to defer tax on the profit they make off of what amounts to the people's savings account..
I believe that's the question Dave Barrett wanted to know and I believe that's why you call him a communist.
Of course you would it's your bread and butter