CLA 6.67% 1.4¢ celsius resources limited.

The difference is the foreigner owns and operates the mine and...

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    The difference is the foreigner owns and operates the mine and you are sort of partners with the government Oceana Gold operated there mine 25 years and made good profits then had some drama getting another extension had to close the mine waiting for that to be processed eventually got another 25 year extension but the government made it from when the previous permit expired so effectively they got an extension of 23 years.
    Those foreigners operating on MPSA have not faired so well. I guess the investment incentives in the Philippines for foreigners explains the lack of foreigners mining there. They have all been there done that and gone and obviously for good reasons all lost a lot of money. One sold out there project for $1 and departed. Every major mining company has been but none remain.
    One has bought a 40% stake for payments of US$230m and has the option to acquire a further 20% by paying an additional US$110m and incurring initial development costs totaling US$165m.This was years and to date no progress .
    With such a history its going to be difficult to attract explorers and developers to the Philippines. There are many other places to go and the obvious ones that attract explorers and developers are where you find many filipinos working.


 
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