This article was written in 2006. Could MTO be setting up for what happened shortly after? Maybe there has always been a reason for this type of management behavior in this jurisdiction of Quebec (sans ces outils de prise de vue... pas bien avec BT).

“In this game you bet jockeys and you bet ponies, and we will get to those in a moment. In Quebec you can also bet on the racetrack. Quebec so encourages mining that your first 100,000 tons are tax-free, “a batch sample” they call it hereabouts, and you get handsome rebates when you hire people, or when you plunk your operating profits back into the ground for new exploration and development. Here’s how the Quebec mining incentive works: In addition to the first 100,000 tax-free tons, an additional 52 cents are returned on expenses incurred during pre-production. And when you get that rebate, you’re free to turn around and re-invest it, and get another 52 cents back, and so on.”

Read entire article at:

http://www.gold-eagle.com/editorials_05/bond071906.html

Don’t you just love the way things work when heads of corporations (Goldman Sachs) can still demand those salaries?

GWH