IKN

Tis rigor and not law

Ron Hochstein of Lundin Gold (LUG.to): “The mine will be ok at $1000/oz gold”

After doing the ConfCall, Ron Hochstein skipped over to BNN for a Q&A with Andrew Whatshisname and you can watch it here. The line he used up there in the title is a good soundbite, but it doesn’t address the problem with FDN. When he does get to that point just after minute three, Hochstein says that the tax deal struck with the government of Ecuador is “fair”. He tells us the “effective tax rate is 29%” over the life of mine, which is weird considering that according to Ecuador’s constitution they need to leave 51% in-country. But hey, details.
Trivia: Ron Hochstein’s gold tie reminded me of Tye Burt’s similar taste in gold ties. Coincidentally, Tye Burt also had his thing with FDN while leading up Kinross. Anyone heard from Tye Burt recently?….anyone?

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