Robot42, I think what you are saying is correct. One more Indonesian law worth mentioning is (in laymans language) that any structures put in place which are aimed at getting around Indonesian laws shall be illegal and un-enforcable. This is why if you "buy" land in Bali (which is illegal) through a nominee and that nominee shafts you, you don't have a leg to stand on. Other mining companies have used these nominee structures in Indonesia and the local nominee has delivered. But the local nominees in the case of IAU had form proving over and over their intention not to deliver.
So why did the company keep throwing good money after bad? It just doesn't make sense. And this kind of behaviour continues today where money is being spent on assays on a project which IAU has been kicked off. Can someone explain this logic?
IAU Price at posting:
40.0¢ Sentiment: None Disclosure: Held
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