TBR Assets Outside of Australia

Some people are putting forward TBR's assets outside of Australia as solid assets. However, so far as I am aware, the only producing mines and the only JORC resources are in Australia.The Philippine assets are something that I am prepared to discount very heavily. The attitude of various Philippine authorities towards mining these days is very negative. OGC has been forced to close the very efficient and profitable mine at Didipio because of provincial government action that has still not been over-ridden at the national level. RED was forced to suspend further development of Siana and has still not been inclined to recommence despite some change in attitude at the national level.
At best, I would regard TBR's Philippine licences as long term potential. They bought out Prometheus's holding holding of the Diwalwal Mineral Reservation in December 2018. No JORC resource has been defined but artisanal extraction has occurred over an extensive period and TBR has been carrying out infrastructure development to facilitate drilling activity.
The other offshore asset is in Ghana. Ghana is a much better place for mining in recent times (excepting COVID19) and so what do we have there? The company has been pursuing licences and prospects for a good number of years so far and only received an 11 year exclusive mining lease on the Japa Concession in July 2019. Recognise that TBR has been active at the Japa Concession since at least 2013 with progressive drilling showing gold presence, albeit still without a JORC resource defined.
The fact that EVN has taken a 19.9% stake in TBR early in 2019 is a positive indicator of TBR value but since EVN has been focused on Australia and only looked elsewhere with its recent purchase of Red Lake in Canada, does not demonstrate any recognition of Philippine or Ghana value. Rather, I think it indicates the value of the AUS holdings and TBR's low EV to Production ratio.