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Endeavour Silver Corp. Message Board

  • monstros1 monstros1 Sep 30, 2013 2:08 PM Flag

    Mexico's proposed Royaly tax (7.5%)

    This is going to pass. Just like our government here in the US, Mexico's Legislature will take the money wherever they think they can get it. This is like handing the cookie jar to a room full of children and asking them to just eat their bologna sandwiches... Sorry, I love this stock but when the government get involved with re-distribution talk I have to stay away.

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    • With the threat of the 7.5% tax lowering the stock price, at what price do you think this a buy?

    • Northern Miner ---- "Mexico-focused newsletter writer Mike Kachanovsky argues that if the 7.5% mining tax is passed into law it will have a chilling effect across the board, but says he suspects that the government may have floated a high number first in order to gauge the reaction, and will probably settle on a lower number in the 2–3% range so that it appears that it is willing to compromise."

      "He also makes the point that the government “isn’t stupid” and recognizes that some of the largest Mexican mining companies like Fresnillo (LSE-FRES, US-OTC: FNLPF), Grupo Mexico and Minera Frisco (a private company owned by telecoms billionaire Carlos Slim) are likely to push back against such a high rate." “Companies like Fresnillo and Grupo Mexico, they’re politically connected . . . they’re not going to allow a proposal that is so harmful to be accepted.”

4.44-0.35(-7.31%)Aug 30 4:02 PMEDT