Sable Mining Africa Limited, a British Virgin Islands-incorporated resource company focused on mining assets in sub-Saharan Africa, expanded its West African iron ore portfolio following the acquisition of a 123.5 square km exploration permit in the Mount Nimba area of south-east Guinea, through its 80% Guinea subsidiary West Africa Exploration SA.

Within the permitted area, which is highly prospective for iron ore, significant quantities of Canga-type iron ore conglomerate have been observed forming three main plateaux covering an approximate area of 35 square km. A reconnaissance drilling/pitting programme is planned to confirm the thickness of the iron mineralisation and grade at depth with completion prior to the onset of the wet-season in May. Access roads to the plateaux will be completed in February 2012.

Sable Mining CEO Andrew Groves commented on this expansion: “this is a fantastic addition to our iron ore portfolio, with early indications from reconnaissance work already highlighting the project’s prospectivity. Tak

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Continuing our series on Famous Tax Quotes (quotes from court opinions and rulings with language that is colorful or that concisely states an important tax principle) today’s tax quote is:

If 105% of gross receipts * * * does not satisfy the requirement, then 225% is in the same boat but another ocean.PPL Corp. and Subs. v. Commr., ___ F.3d ___ (3d Cir. 2011)

When facing with a significant debt issue and financial crisis, an individual or a business proprietor may consider filing for bankruptcy. This option gives a borrower the opportunity to be dismissed from all debts via Chapter 7 Bankruptcy.

Nevertheless, not everybody that files with regard to bankruptcy can be eligible for a Chapter 7 Bankruptcy. If the actual bankruptcy court finds that the borrower is capable of repayment, he/she will probably be subjected to a five-year repayment plan where a percentage of the actual monthly salary will probably be automatically paid out to lenders. This is known as Chapter 13 Bankruptcy.

Chapter 7 as well as Chapter 13 is simply the two basic forms of personal bankruptcy but there are many types as well. It’s crucial that you understand that not all debts may be dismissed via bankruptcy. Examples of these debts contain alimony, the majority of student loans, and also tax liens.

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Morgan Stanley Research released its latest real estate report, Housing 2.0: The New Rental Paradigm to provide market insights to investors. It’s interesting to know that the research team observes how more Americans have become renters instead of homeowners, attributing to different factors in the economy.

The report states:

Across the country, more Americans are becoming home renters, and fewer Americans are becoming homeowners. The beginning of the rentership society is upon us. But all renters are not equal – of the roughly 40MM rental housing units in the country (representing roughly $6 trillion in asset value), about half are multi-family and half are single- family.

And this is good news for real estate investors like you! Wit

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Hollysys Automation Technologies, Ltd., the leading provider of automation and control technologies and applications in China, registered in the British Virgin Islands, announced that it has signed a contract of approximately US$4.2 million for supplying of 200-250km/h high-speed rail ATP equipment to Ministry of Railways of China, which will be finished delivering by December 31, 2011.

CEO and Chairman of the BVI company said in his comments: “We are pleased of signing this 200-250km/h high-speed rail ATP contract for the works we’ve already completed largely. With approximately 17,000 km of high-speed rail tracks currently in construction in China , we are still seeing a huge market potential in high-speed rail signaling market for leading players like Hollysys to realize and capture. Giv

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This week the IRS published the following Private Letter Rulings relating to international taxation:

PLR 201152007 – Late PFIC mark-to-market election

PLR 201152008 – Spin-Offs by U.S. corporation with foreign parent, with various deemed transfers

PLR 201152012 – Early re-election of 911 exclusion

PLR 201152013 – Late/retroactive passive foreign investment company (“PFIC”) qualified electing fund (“QEF”) election

PLR 201152015 – Drop of shares of Fsub2 into Newco2 (foreign) followed by a check-the-box election on Fsub2 (to treat Fsub2 as a disregarded entity of Newco2) was treated as an F reorganization, despite the fact that certain post reorganization transactions were treated as distributions.

If you have not already done so, you need to get your hands on a credit score. This is the magic number that loan providers and others judge you. Once you know the number, you are taking a big step toward controlling your own credit. As you go looking for credit scores, you will end up flooded with offers. Go to any search engine and type in the phrases “credit score.” The many detailed results may have your phrase conspicuously displayed and bolded.

When you get yourself a loan, ask your lender regarding your credit score. Simply because they just taken your credit reports, they will have an up-to-date credit score for you. If you don’t just like what you see, dig deeper. Order your credit reports and see what might be affecting your scores.

You have to be cautious out there because you’re dealing with some very sensitive information. If you give the sensitive personal information to the wrong party, you risk becoming a victim associated with id theft.

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Although the overall health of the economy is of interest to everyone, if you’re a banker you particularly want to know when people will start borrowing money again.

Very roughly speaking, banks typically hold equal amounts of commercial loans, commercial real estate loans, home mortgages, consumer loans, government securities, and cash. With commercial, mortgage, and consumer lending sharply lower in the last few years, banks now hold more government securities and a lot more cash, both of which don’t produce much income.

In the sequence of recovery, credit cards and auto loans will come first, mortgages probably last.

The latest economic data suggest very strongly that consumers are now willing to increase their credit spending. Jobs in retail trade in November were up 1.6 percent from a year ago, a strong increase. And retail sales of cars in October were up 7 percent from last year. Thi

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