Don't know why you guys see it the way you do?
For Katanga, as indicated in the article - all issues have been resolved with Gecamines and they are now waiting for gov't sign off. This is the same situation with AVM as stated in their last webcast.
It appears to me the other companies are prepared to fight, and this implies to me that Gecamines have not made allowances for the current economic climate.
Bill said when asked on the webcast about whether the gov't taken a concillatory approach to their original demands and made allowances in face of the current situation, his reply was that "...I don't think they see it that way..." - again the indication being very little if any change in their stance.
He also stated they reached agreement with something AVM "...can live with...". This is by no means a glowing endorsement of the result, especially when it comes from Bill, (a great under stater), and by no means an indication that AVM will "not be harmed"
I think the current AVM price is ridiculous and should appreciate regardless - as some commonsense returns to the market and this is what I think is happening, but I also believe we will not be happy with the outcome of the review.
I think Gecamines has held its course regardless of the circumstances of the world economic climate and the AVM has decided not to fight too hard against the impositions of the review - perhaps due to the associated costs and other problems with production that it is facing. I Hope I'm Wrong
cheers
L/H
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