Mining ban in Philippines just got a lot closer, page-90

It's because they are not doing JORC measure exploration/drilling for their entire tenement so it makes it hard to determine so it's a guess what their market capital is but that is if there isn't issues with the landowners at Isabel, and SJ goes into production more smoothly then Isabel, but they still need the significant start-up cost which their PFS says they predict to cover from first 3 year of production so it's still over-value for me.