Ann: Conditional Non-Binding Proposal to Acquire All MYL Shares, page-52

It might be worth comparing the situation with the eastern Congo where big miners such as Glencore operate in what could be described as a 'failed state'. They ship out through Zambia and Tanzania (I think) and probably bank in South Africa.

Also none of the commentators mention the fact that Bawdwin is a joint venture and the 49% not held by MYL is in the hands of Myanmar companies with connections to the junta. Our two major shareholders own almost 30% of the company and if you add the percentage held by PIGS there is no way this paltry offer will get up. All IMHO of course.