some doodles...........

Whilst we are awaiting the latest update from the gold prodution and how the copper/zinc circuits are bedding down (ie short term considerations), and speculating on shareprice gyrations (and the activities of major shareholders), I thought I would throw in my view of the company and why I follow it.

Rapu Rapu is a solid project and whilst not world class it should generate great cashflow over coming years. A delay of a day or a week here or there is irrelevent in the scheme of things-not that there has been in this instance.

For the longer term investor, a category I fall into, the importance of Rapu Rapu should also be considered as opening doors to bigger plays.

The Philippines is near the top of the tree in terms of prospectivity-hence the presence of Anglo,BHP,Phelps Dodge,Newmont, Newcrest etc.

Rapu Rapu ,by being the first modern operation to start of any significance since the Marcos era, has given Lafayette massive credibility. It is demonstrating start of the art mining expertise, likewise geological expertise, and perhaps more importantly-an ability to handle local cultural requirements (as compared with the difficulties Climax has experienced at Dinkidi).

LAF is now the perfect joint venture partner and/or will gain comparatively speedier responses for its own exploration plays. (The relationship with LGI should also be viewed in this light).Given the country's prospectivity this attribute is of substantial intangible value- it has bucket loads of 'blue sky' over coming periods.

Sure the share price has come off a bit in the past few weeks, but that makes for opportunities.

One of the better candidates for the 'bottom drawer'!LOL.

Cheers,TAS