Can't believe I missed this one on my radar. Looks very promising and very good value at current prices.
Literally the only downside I can identify (if I play the part of a serious nitpicker) is the sovereign risk of the location. Indonesia makes me nervous after seeing the kind of incident that occurred with IAU.
But it looks like PXR have got the contractual stuff sorted right from the start - whereas IAU were doing some funky non-binding JV arrangement that ended up biting them on the backside.
Thanks for the heads up. Will eye this tomorrow.
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Dani Nadri, Country Manager Australia
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