North Korea and PSM, page-27

I agree with Coco regarding lack of PSM viable resource, although the endless test drilling is adding more data to all mine sites.  With over 20K invested in PSM, I would love to see mine development but this is quite away off until serious reserves are proven.  If and when that happens then Korean JV mining partners will move in as per ROK legal system, then we may have SP growth, but don't expect PSM to be an emergent FMG in ROK..

Regarding DPRK, some of the old Japanese mines are still being worked producing moderate quantities of Pb, Zn, Cu, Cd, Mo, W mostly for export to China,  A new graphite mine was commissioned in 2006 at Jeongchon as a 50:50 JV with ROK interests, so some development of its 700m width seam is underway. Similar to ROK the DPRK has a large graphite resource base, but again needs to be viable for commercial mining.  Then again some of the coal and tin mines are operated in the prison camps under worse than slavery conditions.  So I am not so excited ...