Yes this is madness and a kick in the guts. Maybe our board have deliberately issued this announcement to put a rocket up their arses. Either make a decision or we walk away!
Anger shouldnt be directed towards management though. Im sure they have complied with all Turkeys procedures and formalities. The govt has repeatedly assured them that the permit will be reissued, what more do you expect them to have done?
The turkish govt have essentially shot themselves in the foot by dragging this out for so long. They crave foreign investment but appear to have a bloated and antiquated system of govt, much like the former eastern bloc. What foreign company would in their right mind want to invest in such a place. A big red flag has been placed over the entire nation saying "stay away if you plan to mine our resources"
As a long term holder of RML i was only interested in Acoje anyway. Maybe this is a blessing in disguise. Cant see the govt of the Phil stopping this project along with the hundreds of millions in royalties, employment for the locals and benefits for the communities surrounding the mine, for the sake of a few trees.
I have been in the red with this stock for a long time now. Have wanted to cut my losses, take a hit and move on. No point now. I will ride it out and hope things turn around soon. I live in hope.
ENK Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
