Jason previously mentioned that unlike the Batero's...

Jason previously mentioned that unlike the Batero's tenaments, which are directly next to local villages, LCL claims are more further up in the hills and mining operations there would not bother people that much.

However, the massive drop in Batero's SP is a good reminder for Jason to diversify the LCL holdings. In PNG, there is plenty of Australian economic interest already and Aussie investors are more familiar with PNG than with Colombia. Currently, 97% of PNG's gold export go to Australia and tier-1 miners such as St Barbara and Newcrest operate their mines there, which means obtaining a mining licence for an Asx listed firm could be easier as well.

I personally don't mind this purchase as the initial drill results show great promise in gold and copper, but unlike the Colombian one, it's not an advanced project and it's a bit of a gamble at this stage.

I really hope that the Colombian drill results would not go into waste, but we have to be realistic here and understand that locals can bin the project anytime if they wish so.