sovereign risk is the problem imo, page-7

The rules going forward can always be changed pipiman, irrespective of what the circumstances were at that time.

Look at the super-tax debacle that nearly occurred in Australian 2 years ago where the government effectively proposed taking 40% of all existing and new mining projects for zero consideration.

The irony about the Australian mining tax is that investments here are effectively now sheltered by a much watered down system focussingon iron ore and coal.

But the risks in Africa and Asia (ie Mongolia) are very real. SDL has already offerred up significant value with the free carry.