re: Ann: Frieda River Copper Gold Project - N...
And where would that have left HIG with Frieda? No where, with no cash to do anything about it, and no one willing to pay anything for it with out a BFS. So no. Not what they should have done. At least Xstrata added value to the project for HIG, and drove it forward. Even if it wasn't on the originally agreed timeline. I admit to knowing very little about the previous deals to get Frieda to the BFS stage, but at least they got one. Something HIG would not have been able to do on their own. I have spent a lot of time at Frieda, and this news can only be a good thing, although there is a hell of a long way to go yet. As with anything in PNG, the locals changing their minds on just about everything and wanting more and more will be the hold up. But they all want this to go ahead. As I am sure not many of you have spent much time up in this part of PNG, it will be a world changer for these people. Xstrata was the only provider of any form of healthcare and employment for the area, as from all the operators I have seen around the place, treated the communities here far better than anywhere else. The stalling in the last 12 months or so has got the communities a little upset, but as they say, its been going on for 40 years, so until they see something happen, they don't believe it will. They think it is just more talk. I hope for their sake they are wrong.
HIG Price at posting:
8.6¢ Sentiment: LT Buy Disclosure: Not Held
