The current licence on Bawdwin was awarded by army. I believe that in a worse case scenario that will help...
The army has had prior experience attempting to run Bawdwin and failed miserably.
While the reported 12 mth coup is sad for the democratic aspirations of Myanmar it may not have a disastrous effect on business in the country. It will to some degree depend on whether the military wants to rule a country in a downward spiral during and post COVID or whether they have some other end game in mind. If I was them, I would have already done the scenario testing. Wonder what they came up with.
Personally, I will be sitting tight from here until things become clearer. I would imagine that will be weeks or months, not days. For the moment all most of us can do is engage in conjecture.
It will be a very 'interesting' period. Will sanctions be re-imposed. Where will Myanmar get foreign revenue from? MIC approval may take longer, the Chairman has been arrested I believe. Do MYL cancel upcoming exploration? I would guess so, at least until they know what is happening with greater certainty. Will we see some form of MIC granted this year? Will it be the same terms as previously being negotiated or is it a new negotiation? Lots of questions.
What I won't be doing is selling on open. Some others may need to, I don't.
MYL Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
