Hi all
The following article may explain the drop in MWE SP in recent days (http://au.news.yahoo.com/thewest/business/a/-/wa/15263690/tiger-lower-on-sovereign-risk-fears/):
Tiger lower on sovereign risk fears
The West Australian
October 31, 2012, 9:39 am
UPDATE 1.30pm: Tiger Resources has moved to reassure shareholders after media reports suggested the government of the Democratic Republic of Congo might increase its interest in mining projects in the country.
Nervous shareholders sent shares in the miner sharply lower today on fears the country's government could unilaterally lift its stake in Tiger's Kipoi copper mine and nearby Lupoto copper project.
The media reports stated that the government was considering raising its interest in mineral projects in the country from 5 per cent to 35 per cent and raising royalties on mineral exports to 4 per cent.
Tiger Resources managing director Brad Marwood said the company had been in consultation with the government about the possible changes.
"The DRC government, through our joint venture partner Gecamines, owns 40 per cent of the Kipoi copper project and we already pay a 4.5 per cent royalty to Gecamines and the DRC Government," he said.
"We see no basis for a change to the ownership structure at Kipoi...
"We believe existing mining operations, terms and conditions affecting Tiger will be honoured."
Tiger shares closed down 5.5 cents, or 15.07 per cent, at 31 cents after touching an intraday low of 30.5 cents.
R1
MWE
mawson west ltd
