If AGO goes into administration, page-41

A country can explore for minerals wealth in 3 ways:

(1) Government does it, can't fund it properly, can't develop mines, can't effectively raise large amounts of cash with raising taxes;
(2) Government lease out land for companies to explore, government gets rent, royalties, and land explored for free;
(3) As (2), but then the Government takes back all the resources found by the companies for the benefit of the people.

Countries that take option (1) are rarely successful;
Countries that take option (3) include various African banana republics like Zimbabwe, Tanzania, South Africa (50%), Indonesia. Since exploring there just results in assets being stripped the sovereign risk is so high no companies really want to explore there;
Australia chooses option 2 because its the most effective and transparent way of exploring.

Anyone here either has an interest in AGO or mining in general, and investing in companies which explore and mine. So how on the one hand can you complain about companies owning mineral resources but still invest ? Most seem to think option (3) is the best way to go. Or at least option (2) while their shares are going up, but option (3) when their shares are going down the gurgler.