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These gains don't cause pain. A capital gain is the amount of money you pocket by selling one of your investments for more than you paid for it. Technically, capital gains only count for what's called a capital asset, but that's really just anything you own for investment purposes. Stocks and bonds obviously qualify, but your house and household furnishings can also count.
For tax purposes, capital gains are classified as either long-term (held for more than one year) or short-term (held for less than one year) and there are different tax implications for how long you hold onto a capital asset. For most long-term capital gains, you're taxed no more than 15% of the value of the asset. Short-term gains get taxed as regular income, so you pay the rate for the tax bracket you're in.
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In a perfect world, we'd all have capital gains. But no one¿s that smart or lucky. When the value of an asset at sale is below what you've paid for it, it's called a capital loss. The good news is that the government lets you count that loss against any gains you've had, lowering the taxes you pay. In fact, many people who sell a stock that has risen far over their purchase price tend to sell some stinkers, too, at the same time for the tax benefit. This is known as a capital-loss offset.
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Wednesday, June 04, 2008
Ringbolt Ventures Ltd.: Utah Potash Assessment Continues
Comtex
VANCOUVER, BRITISH COLUMBIA, Jun 4, 2008 (Marketwire via COMTEX) ----Ringbolt Ventures Ltd. (TSX VENTURE:RBV)(FRANKFURT:3OZ) is continuing to explore its prospecting permits and exploration licenses on its potash property near Moab, Utah.
The company has acquired complete data on 20 of the 33 oil & gas wells drilled on or near their property (field verified). This data includes hole location as well as thickness and grade of the potash zones. The Company is continuing its search for further information on the other 13 drill holes. These wells were drilled in the 1950's and 1960's before the NI 43-101 requirements were in place, so the results of the data must be viewed as historical in nature.
Radiometric data is available on all of the 20 holes and chemical data is available on 10 of the holes. Two major potash beds have been identified, the same beds from which potash is being produced in a mine 40 miles away. The data has allowed the company to make determinations of the permissive geometry of the two potash beds, including thickness, grade and aerial extent of the beds.
The lower of the two beds, identified as bed #9, has an aerial extent of 650 million square feet, as measured within one mile of a mineralized well. The bed averages 8.6 feet in thickness and grades 22% K20
The upper of the two beds, identified as bed #5, has an aerial extent of 550 million square feet, as measured within one mile of a mineralized well. The bed averages 6.5 feet in thickness and grades 16.5% K20.
If the search radius is extended to five miles from a mineralized hole, as is done in the Saskatchewan basin, the aerial extent of bed #9 increases to 3 billion square feet with similar thickness and grade.
If the search radius is extended to five miles, the aerial extent of bed #5 increases to 2.5 billion square feet with similar thickness and grade. The majority of the historical drilling cited in this press release was carried out by Superior Oil Co. in the 1950's and the 1960's. The drill logs, from these drill holes, have been summarized in OPEN_FILE REPORT 78-148 titled "The Geology of the Lisbon Valley Potash Deposits, San Juan County, Utah" by Robert J. Hite, published by the United States Department of the Interior-Geological Survey. The company believes that this data is reliable because it appears to have been prepared internally for a major company, apparently seeking to make an objective appraisal of the economic potential of the potash beds; it does not appear to have been used for promotional or publicity purposes at the time. No more recent data or resource estimates are available in the public domain.
Stuart Havenstrite, CPG and Mike Magrum, P.Eng., both qualified persons under NI 43-101 have approved the technical content of this news release.
RINGBOLT VENTURES LTD.
On behalf of the Board of Directors
Per: Jason Walsh, Director
SOURCE: Ringbolt Ventures Ltd.
Ringbolt Ventures Ltd. Jason Walsh Director (604) 682-1643 or 1-877-324-7245 (604) 682-1666 (FAX) Website: www.ringboltventures.com
Copyright (C) 2008 Marketwire. All rights reserved.
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