Projected commissioning of crushing plant---49 days
gjcl,
A similar story unfolded to a relative of mine, an MD of a Canadian mining company operating in Bulgaria. Having found a copper/gold deposit [ also a Crusader sword given to the local history museum ],the authorities refused to grant him the mining lease. After all the work and money spent nothing. The corrupt awarded the find to another company.
When the super tax on profits was proposed, there was all the talk by the major miners of sovereign risk in Australia , I thought of what happened to my relative.
Remember the fierce media campaign. It was as if the world would fall in. Sovereign risk was spruiked ad nauseam. The majors were taking their investments elsewhere. australia was too risky. What hypocrisy
Knowing what had happened to my relative, I thought good luck to them,they will need it.
What has occured in the Philippines to Xstrata can be found in one form or another in Mongolia,Africa, and what about the off again on again miners' strikes in South America.
Give me Australia any day where we have an impartial justice system to settle disputes . --------------------------------------I believe there will be some very embarrassed journos and others and very happy shareholders when the first production starts and that's anther day closer.
CDU Price at posting:
$4.48 Sentiment: Buy Disclosure: Held
