Toledo - Cashflow from the world's 3rd largest Nickel Resource

Konil/Jules -

All I meant was that if you read the information on that site, you can gauge the likely level of participation of the government - regional and national - in the profits of the project. The exact terms to be negotiated for Atlas/Toledo won't be known until the MPSA is granted - but there are some clear guidelines.

There are also many incentives offered, but the most important one of a corporation tax holiday for 5 years or until capex has been reclaimed (whichever comes sooner) won't protect the profits of the direct ship operation for very long, as the capex is so low.

The large-scale project will, however, benefit massively, and will be likely to gain the entire 5 year benefit of the corporation tax holiday.