Problem is the mining laws and foreign investment restrictions....

Problem is the mining laws and foreign investment restrictions. There are companies already with MSPA and sitting on larger and higher grades One has been trying to raise the capex for 21 years went from a project Capex of $1.1 billion, could not get partners then tried $700 million no luck then recently $225 million for a smaller size operation still trying.
Chevron recently withdrew from the Kalinga Geothermal Power Project just another of many foreign investors that have departed. If it was made attractive for foreign investors to operate in the Philippines there would be flurry of activity. As it is has to be 60% Philippine 40% foreign. Have to compete against the likes of Australia and Canada and most of the world.