copper has biggest weekly gain, page-14

Hi Joooooles

“Large Sovereign Risk” in PNG is an outdated uninformed Australian investor mantra from the early 90’s. Whilst I accept there are risks these risks are no different from doing business in Africa or South America.

This is evidenced by Swiss mining giant Xstrata exercising an option over the Frieda River copper-gold project in PNG progressing toward a feasibility; Barrick Gold in PNG and searching“ for more Porgeras” as part of its $US175 million 2007 exploration effort; and South Africa’s Harmony Gold expected to complete a feasibility on the Wafi/Golpu copper/gold project by July this year.

World class deposits are hard to come by and what Marengo have (100%) is a world class project located just 20km from the US$850 mil Ramu Nickel project JV’d by the Chinese.