I can't understand San Miguel. My only explanation is that they are inept. Why would they invest a 10% stake @ 86 cps only 6 months ago and not take up their rights under the CR? Nothing has changed in 6 months. The mining ban was there then and is still there now. If they thought it was a good investment then, why not now? Of all companies, they should have as much info on Tampakan and the community as anyone and probably more. Their shareholders need to ask them why they invested 6 months ago, just to see their holding diluted by over 50% because they didn't participate in the CR. Are they playing games? But what game are they playing?
Anyone have any insights?
HC - you are in the Philippines, any thoughts?
Add to My Watchlist
What is My Watchlist?