Cal me a cynic perhaps, but all this talk of PNG putting in 30% of the required development capital makes me ask 'where is this money to actually come from? The history of PNG Government finance would indicate to me that the only way PNG would find such large sums (on paper, of course) would involve borrowing in advance of future royalties....
So I wouldn't be counting on them finding actual investment capital!?
broker coverage, page-11
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