Your illustration is exactly how devastating this windfall tax can be. The value of ARU's reserves would be bascially lock in at the contracted thrashhold price. With little or no upside and yet the down side is limitless. The remaining 30% they allow you to keep (actually not even that much after costs and income tax) you will be lucky if that is a wash.

We need to see some details, this just cannot be true. Who can operate in this environment and expect to turn a profit. If we can see it I am sure the Ecuadorian government and mining companies would see the same thing too. Let's hope there has to be more to what is published to date.

Meanwhile I will try to sleep this off and hope the details would alleviate our concerns.