Some people will always have issue with some countries as an investment destination. This can be said for many places in Africa. Things change. The Pilippines has some successful mines and miles of potential and the govts dont mind the income. Medusa have been operating up there and producing gold at the lowest cost point of the spectrum. Any delays they had, have come from outside any country issues. The Canadians have also been doing well up there and one of the more successful groups own about 10% of SRM. The stock trades at such a massive discount anyway. A discovery like this in Australia would see a share price well north of a dollar by now. We are not helped by a terrible resource market, but this will also change over time imo. It was not long ago, that Australia was seen as risky with a govt that effectively wanted to nationalise 40% of the mining industry via a mining tax. This got even worse with a carbon tax. The market has not really recovered from that as yet. In the real world, all they managed to do was make off shore mining more appealing.
I did not buy SRM for the porpyry potential, but its clearly a real potential. The geology up there is outstanding, but we will only know when the drill hole hits. They have announced that the minerals are present, so its a good start and the skarn is also a major indicator of a larger feeder system at depth. This is still in the early stages of the company understanding just what they have. The real story, remains the skarn. I reckon these skarn deposits have already given us a decent high grade mine already, regardless of anything else and that value far exceeds the current share price imo. please dyor.
SRM Price at posting:
23.0¢ Sentiment: ST Buy Disclosure: Held
