chart - looking firm, page-27

re: for sitting duck -philippines mining law. SD

For your information there is no Mining Licence in the Philippines. First of all you can hold an Exploration Permit -100% - that is great> then you have to convert to an MPSA if you want to mine -60/40 rule. Or if you spend more than $50 million from memory you can hold a Financial and Technical Assistance Agreement (aka WMC) which you can own 100% but now challenged as in breach of the constitution. A MPSA is the title under which LAF would be proceeding.
Now there are JV agreements with the Govt. where the Govt has an input and Co-Production agreements with the Govt. maybe LAF has something like that but certainly neither Climax nor WMC worked that option and I doubt anything has changed. Then you have small scale mining licences for the indigenous population. That is not a bad way to go - Bill Phillips (Creasy backed)is now increasing production to 24,000 ozs a year in Mindanao I understand -do you have his phone number ??

If LAF are proceeding under some other title I sure as hell would like to know more on that subject.