for heremes/skippa, page-20

re: laf project rp-heremes take note -- Thank you Acturtle for expressing my sentiments exactly on SE Asian mining. You described it all very succintly from experience. And thank you Rosco,Outstation,Yttrium.

As for you Heremes you may now realize you are making stupid rash statements unsubstantiated by either personal experience or proper research. Take one of your gems -the number of gold mines in the Philippines.There is only one listed producing gold miner -Lepanto -which was producing approx 130,000 ozs year from their Victoria mine -but a recent strike has put this company into a loss making situation -at least temporarily. Now there are hundreds of small claim miners who collectively produce a lot of gold - I think about 70 tonnes although much is illegal mining and never reported so it is usually a guesstimate -and a lot comes from the lawless areas of Mindanao like Di Wal Wal. And I have a mate up there who is now reportedly producing 20,000 ozs a year from the Co-O mine near Davao City -he bought the mine with some help from Mark Creasy -a beautiful reef mined by adit into the side of the hill which grades 1 oz tonne -and he revamped an old plant that Packer spent USD$20million building -which had no proven ore reserves to support the investment. (Another one of your dream Asian mining projects-I think from memory it was Muswellbrook Mining )
Now Indonesia with Freeport and NCM would produce much more gold than the Philippines and probably has as many if not more small claim illegal miners. In the Philippines TVX are producing a bit now in Zamboanga - the Philex mine on Negros is now on care and maintenance -so there are no real gold mines operating in the Philippines -just small claim miners. So Heremes - about five mining booms later since Marcos left the scene and there WAS a vibrant mining industry - I have seen them all -and you still have no proper mines in the Philippines -so go over there mate and get on your soap box -curse old TT and see what you can accomplish if LAF turn out to be a dud like all the hopefuls gone before --- WMC, Barrick, TVX, CMX and scores of major US,Canadian ,UK companies etc etc. No-one really expects Anglo to get Boyongan away either -recent drilling by MMC nearby is instructive -the Bishop and his cohorts and a local NGO -( nothing at all to do with any UN sponsored organisation) surrounded the MMC drilling team and had them virtual prisoners for some time until the Army rescued them. I can see scores of protestors blocking LAF metal shipments -because some of the NGO submissions are very well prepared.

Outstation - in answer to your question. There are incredible opportunities in the Philippines to secure old mines and exploration acreage -currently at bargain prices. Red5 did the deal on Siana -to earn an 80% equity to bring the 800,000 oz old mine to B/F -and did not have to part with any shares nor cash. And it is 6 km from the Anglo/Philex 15 million oz discovery. CMX as you know have a long history in the RP and have some good ground abutting on the west of the Boyongan corridor. PEL (John Hill) has just done a deal on the Motherlode in Surigao -look at the potential he picked up for a few thousand bucks !! But PEL won't have the money -nor RED - to do much exploration unless this market turns. IRN have -apart from Tampakan - an incredible gold portfolio too.

Now there is a big difference in securing gold projects in the Philippines and doing JV's with listed companies -or vendoring into an IPO and making money in that fashion ,than the actual prospect of ever mining unless there there is a radical shift in the implementation of the latest Philippine Mining Act which was the great hope for 100% ownership by foreign mining companies in terms of FTT's until challenged in the Supreme Court. What I am saying is that -like Western Australia -or anywhere else for that matter - there are big opportunities to make money in terms of holding ground positions IF gold really fires and whether those tenements are ever mined is a completely different matter. Half of the juniors listed here are corporate miners anyway !!! So my perception of whether it is possible to develop mines in the RP has no bearing on mining property deals -just as it has little bearing here in WA if you are holding good gold properties that are in demand.

I am working on some big old mines that have as much potential as Rapu Rapu -but try sourcing seed capital in this present market. I also have big areas that are 'bulk mineable' that with low capex concentrators -can produce high grade gold by gravity means- where the various ore types incidentally were only recently recognised. So adventurous partners are welcome !! In the last boom I did very well in the Philippines. ( Incidentally in the early 70's under Marcos the Philippines mining industry was booming - there was about 39 mines)

I love the Filipino people - the country has incredible potential -and maybe my grandchildren will see sensible and sustainable development of Filipino resources to the betterment of the Filipino economy- but I do not like uninformed comment from the likes of desk top miners like Heremes who have never been there-do not have the foggiest idea about the mining laws and who have the temerity to suggest there is some great new wave of mining development in Asia that has just magically appeared simply because both KCN and OXR have got some runs on the board. The comments by Acturtle virtually encapsulates it all - there is no easy path to riches in Asia despite undeniable opportunities.
Anway I think we might give LAF a rest !!