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.
EMR Price at posting:
62.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)