Mining Through Uncertainty

Share of Net Proceeds Tax Generated by Specific Minerals 2018 NEVADA Mining Association $126 M Total Net Proceeds Tax Generated Gold/Silver 91.9% MINING THROUGH UNCERTAINTY Copper 2.7% Geothermal 1.3% Gypsum 0.05% Oil 0.3% Other 3.8% Source: Nevada Department of Taxation (Operators and Royalties Combined) 45 APPLIED ANALYSIS

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