Vontrader
Your post sums up why this is a buy and some folk simply can't understand the asset. It is nice to see one of Australia's wealthiest people becoming the largest shareholder and he continues to soak up. He fully understands the Philippines and has been associated with this team for many years. As you know, these guys sold the last mine for $1.1billion to B2 gold, so this is going to be easier than that project. I think some people might feel this is taking a little longer than anticipated, but here are a few things to consider. This management team only took over about 1.5 years ago. Since then, they have raised $15m, drilled the deposit to a point where we are within weeks of a DFS, they have lodged all the relevant documents with all the departments in the Philippines. This also includes the actual mining license (lodged a year ago). This is a lot of work with multiple departments. Given the reality of getting any mining project off the ground in any country, this is all coming together very quickly and i would imagine that point has not been lost on Hains. This is trading at 1/4 of the permitted valuation, so expect an almighty re rate on permitting. dyor
RTG Price at posting:
48.0¢ Sentiment: Buy Disclosure: Held
