No idea as to what he is capable of doing
He was never shown the ability to do a corporate takeover, specially on the international stage
For other investors or players though, this may be an opportunity
And I have heard that the property is open to the idea of a sale, and that Standard Chartered has an actual presentation already
I havent seen it yet though, so cant say definitively
As a local though, my biggest worry is that local courts may get involved and thus, open the possibility for protracted litigation
I am not sure if the current project funders would support a protracted battle, instead of just cutting their losses and sell out
Again, without knowing the funders and their loyalties to the project or the proponents, I cant even venture a guess
I am confident that RTG will get something faster out of arbitration
But once the local courts get involved, its hard to say how long this will get drawn out
At that stage, the project risk gets higher, and the Bunawan mine or Panguna may be more attractive to pursue
This management group has shown great ability to start up projects and get things done operationally and financially
As far as raising funds and creating project value is concerned, their track record has been pretty good
But protracted legal battles are not its key suit, and the record is there in other international projects they were involved in,
as to what they tend to do when the they get bogged down in local politics or legal battles...
Again, thats purely my opinion
RTG Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
