Thanks Sneaky and great post. I would pay a significant premium on the PPSA being signed as to me it removes a lot more risk than it itself being signed. When you look at the fear on here, myself included, it goes further than just the PPSA. As you have mentioned, there is funding risk and sovereign risk. If the government is willing to sign a PPSA, for me it takes away all of that risk. It tells me they are happy to work with us and are not looking to screw us by not renewing the lease or have someone else in their ear looking to muscle in on us. It says, hey we are happy with you, grab some funding and go to work.
But maybe my premium is reflective of the fact that i was happy to spend 25C on my first parcel. Even a 100% premium still feels like a good deal given so much more risk off the table than when i first bought.
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