I would have thought it was giving the JV protection against the current negative backlash that has built up in opposition to the Ramu operation - the JV does enjoy a 10yr tax-free holiday and we don't need a groundswell of opinion mounting against us giving the impression that we're riping off the PNG people,so probably best to hose down expectations(and ridiculous valuations based on in-situ ore reserves) before we come into production - meanwhile the price of nickel is getting close to $9/lb tonight which is great news. And the copper price is again comfortably above $3/lb. If we're about to have a recovering commodities market,then this is a good stock to be in IMO.
HIG Price at posting:
30.5¢ Sentiment: LT Buy Disclosure: Held
