Sovereign risk is always one of those tough questions, it's...

Sovereign risk is always one of those tough questions, it's outside of management control. If the government really wants to confiscate the mine there's really nothing stopping them, although they'd pay the price and international investment would dry up. Management hold 20% of the company so this is their retirement fund!

EMR had this in one of their presentations

Change of Law Provisions and International Arbitration
 Standstill/Stability clause - protects the project from the introduction of any new Laws and/or regulations of
Cambodia which materially increase the financial burden of Emerald; and
 Offshore arbitration provisions - whereby any disputes unable to be resolved by a Joint Review Committee in
Cambodia will take place at the Singapore International Arbitration Centre.