Ann: OceanaGold New Zealand COVID-19 Update, page-24

That's the problem with the Philippines, and far-flung archipelagos in general. I've spent quite a bit of time in the Philippines, and in many jurisdictions far-away Manila carries little weight, and local clan allegiances and impenetrable local politics rule the day. That's why local Governor's can basically thumb their nose at the Central Government when it suits them. And that's what OGC are up against.

I can't answer whether Duterte wants to be remembered as the President who killed off foreign mining investment in the Philippines, but there's undoubtedly some brinkmanshiandp going on. If there was a real desire to get this sorted through back-channeling with the local power brokers, this rubbish would be sorted overnight. That's why I said OGC should just make a call on Didipio, I think the market would actually appreciate some clarity.

But on the other hand, you look at a project like WKP which looks absolutely awesome, and you can see the potential
that's lurking within this company