Fixing the Amount of Assistance to Primary Gold Producers
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Fixing the Amount of Assistance to Primary Gold Producers
Executive Order No. 479
February 2, 1977
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Summary of Executive Order No. 479Assistance to Primary Gold Producers
- Primary gold producers whose annual production exceeds 75,000 ounces shall receive assistance upon application, subject to the following conditions:
• The assistance shall be equivalent to 70% of the positive difference between the cost of production (excluding depreciation, depletion, amortization, rehabilitation costs, and main office overhead) per ounce and the proceeds of sale per ounce of gold production during each quarter. (Section 1)
• The assistance shall not exceed P300 per ounce. (Section 1)
• The assistance shall not exceed the amount by which P1,050 exceeds the sales proceeds per ounce. (Section 1)
- Primary gold producers whose annual production does not exceed 75,000 ounces shall receive assistance upon application, subject to the following conditions:
• The assistance shall be equivalent to 75% of the positive difference between the cost of production (excluding depreciation, depletion, amortization, rehabilitation costs, and main office overhead) per ounce and the proceeds of sale per ounce of gold production during each quarter. (Section 2)
• The assistance shall not exceed P300 per ounce. (Section 2)
• The assistance shall not exceed the amount by which P1,125 exceeds the sales proceeds per ounce. (Section 2)
- The assistance provided in this Executive Order shall apply to gold produced commencing January 1, 1977 until December 31, 1981. (Section 3)
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Fixing the Amount of Assistance to Primary Gold Producers
Executive Order No. 479
•February 2, 1977
EXECUTIVE ORDER NO. 479 February 2, 1977
FIXING THE AMOUNT OF ASSISTANCE TO PRIMARY GOLD PRODUCERS
In implementation of Presidential Decree No. 1070, providing assistance to primary gold producers, and upon recommendation of the Monetary Board of the Central Bank, the amount of assistance is hereby fixed as follows:
A primary gold producer whose annual production exceeds 75,000 ounces shall, upon application, receive an assistance equivalent to 70% of the positive difference between its cost of production (excluding depreciation, depletion, amortization and rehabilitation costs, and main office overhead) per ounce and the proceeds of sale, during each quarter, per ounce of its gold production: Provided, That the assistance shall in no case exceed P300 per ounce; and Provided, further, That such assistance shall not exceed the amount by which P1,050 exceeds the sales proceeds per ounce.
A primary gold producer whose annual production does not exceed 75,000 ounces shall, upon application, receive an assistance equivalent to 75% of the positive difference between its cost of production (excluding depreciation, depletion, amortization of rehabilitation costs, and main...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
primary gold producers
assistance
annual production
cost of production
sales proceeds
ounces
depreciation
depletion
amortization
rehabilitation costs
main office overhead
time period
EXECUTIVE ORDER NO. 479 February 2, 1977
FIXING THE AMOUNT OF ASSISTANCE TO PRIMARY GOLD PRODUCERS
In implementation of Presidential Decree No. 1070, providing assistance to primary gold producers, and upon recommendation of the Monetary Board of the Central Bank, the amount of assistance is hereby fixed as follows:
A primary gold producer whose annual production exceeds 75,000 ounces shall, upon application, receive an assistance equivalent to 70% of the positive difference between its cost of production (excluding depreciation, depletion, amortization and rehabilitation costs, and main office overhead) per ounce and the proceeds of sale, during each quarter, per ounce of its gold production: Provided, That the assistance shall in no case exceed P300 per ounce; and Provided, further, That such assistance shall not exceed the amount by which P1,050 exceeds the sales proceeds per ounce.
A primary gold producer whose annual production does not exceed 75,000 ounces shall, upon application, receive an assistance equivalent to 75% of the positive difference between its cost of production (excluding depreciation, depletion, amortization of rehabilitation costs, and main...
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