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No limit on holding gold if it matches income declaration, Indian govt. says
By the Press Trust of India
via the Hindustan Times, New Delhi
Friday, December 2, 2016
The government on Thursday sought to quell rumors by clarifying that there is no limit on legitimate holding of gold and jewellery, including from inheritance, and there would be no seizure of bullion up to a certain limit even if that does not seem to match income.
"There is no limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance," the finance ministry said in a statement.
As rumors of government crackdown on gold holdings raged, the ministry first came out with a statement saying the steeper up-to-85-percent tax in the new taxation laws amendment bill will not apply to legitimate gold holding, including those acquired through inheritance or agricultural income.
However, with apprehensions persisting in the absence of clarity on limits on holdings, the ministry came out with another statement hours later saying there is no limit on gold holding from explained sources of income. ...
... For the remainder of the report:
http://www.hindustantimes.com/india-news/no-limit-on-holding-gold-if-it-...
Sandspring Resources Commences 2016 Exploration Campaign
Company Announcement
August 17, 2016
Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.
In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.
For the remainder of the announcement and highlights of the 2015 drill program:
https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...
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