Due diligence is just a play on words with regard to San Miguel, they would already know what the company is worth, especially since their private intro to inside information via the the share placement agreement and exclusive right to conduct a due diligence study, therefore they have an edge when it comes to the timing of a takeover. Further, they are Philippine nationals, hardly burdened by the rubber stamping arrangements the gov't will have to give their nod to.
As suggested earlier, it's my view the only stumbling block at the present is gov't approval to mine. Oddly enough posters here have never discovered what these blocks are. Certainly there has been no discussion of them. Indeed they are many, but they are not insurmountable and the latest media reports from Manila indicate some real progress is being made. Bearing in mind the Feds have already stated they will do as they please with overriding local gov't and officials interfering with Federal matters. Which is what this project is all about. A Federal decision
Approval to mine, that's the key issue. All other things are slave to it, including the share price.
For what is worth, the average daily volume of shares traded over the last three months has diminished, indicating punters are doing their own thing. ie: Getting bored with the wait
IRN Price at posting:
73.6¢ Sentiment: Hold Disclosure: Held
