Hmmmm, interesting to have a trawl through the news and see that the Protect Karangahake guys are still well into it, 30 or so strong...
Now, I love nature, going tramping into pristine areas, etc., but I certainly don't agree with the lunatic fringe here who can't seem to reconcile the fact that this has been a mining area far longer than it has been Schedule 4, that NTL isn't using cyanide in leaching processes, recirculating water, etc. and that the balance in the area certainly seems to be towards conservation and not industry. There is a fine line for balancing two-sides, but it seems PK want to have their cake and eat it too.
What shareholders still don't seem to comprehend is the risk factors involved in these guys being on their door-step, day-in and day-out. Not only does it reduce actual production (if it ever gets started...), but there is also OSH rigmarole to contend with, the possibility of one of them being injure or killed, etc. which could also shutdown operations for quite some time (if not entirely).
The market hates uncertainty, and this group delivers it in spades. While I hate to admit it, they are probably doing the best thing that they can right now to further their aims by just disrupting every day activities and being a constant thorn in NTL's side. No doubt they are also emboldened by the CoL in government and the recent decisions around coal and seabed mining in NZ (negative).
Shareholders would be wise to put these risk factors into their spreadsheets and weigh up the effect it has on business being conducted, but somehow I doubt NTL retailers have a valid risk vs reward formula, let alone a spreadsheet to speak of!
I see that PK also has a bill in front of the Select Committee to stop mining all together. This game just became binary.
