Indeed probably good news for most Philippines based miners - however I think it would be unwise to assume that it will be "back to the good ole days" with Lopez's rejection because Duterte himself is anti-mining.
Will be interesting to see if the market starts pricing in receiving approval for the tailings dam just on this news alone...
Personally I think that wold be unwise, but once they get the approval RED looks like a cracking buy (but not before).
Lopez decision, page-2
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33.5¢ |
Change
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Mkt cap ! $2.244B | |||
| Open | High | Low | Value | Volume |
| 34.0¢ | 34.5¢ | 32.0¢ | $7.820M | 23.26M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 62 | 1238797 | 33.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 33.5¢ | 645765 | 66 |
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| RED (ASX) Chart |