OGC could run to $9 if Gold $2000+ and Didipio Mine approved?, page-123

Given the delay by President Duterte I'm beginning to think that the FTAA may not be renewed, but may be replaced by something else.

This new agreement will allow the reopening of Didipio.

By trying to look at things from the President's perspective and not from our point of view this is what I've come up with.

First a little background.

The President is from the PDP–Laban party. This is a party with a strong working class base and significant influence from the Church.

The President has demonstrated a strong leadership with regards to fighting corruption, drug dealers and generally promoting national interests. This implies that the delay is not due to vacillation and weakness on his part. Additionally the Church has been working to overturn the FTAA legislation pretty much from the get go. As well, he must also take into account the deceased Gina Lopez support base and the needs of the working people for jobs and the broader economy.

Something is cooking.

We might get a speech from the President going something like this.

"After much consideration and discussions with all stakeholders, a decision has been made regarding future mining activities in the Philippines.

Originally the Financial or Technical Assistance Agreement or FTAA was introduced by President Ramos in 1994 to encourage mining and economic development in the Philippines. Considering that this nation has the 5th largest mineral resources in the world with regards to Gold, Copper, Nickel and Chromium and yet mining makes up less than 1% of the economy or jobs for our people; we consider the FTAA a failure.

Five FTAAs have been approved. The first agreement made in 1994 is up for renewal. We will not renew a policy that has failed to provide prosperity for the wider population and incentives to grow the economy. Henceforth while all FTAAs currently in operation will be honoured, they will not be renewed.

We intend to replace it with a new regime to encourage and protect mining employment, investment and remove uncertainty.

This new agreement will place all mining activities after the current FTAA arrangement expires under direct Federal control. Within the defined operating areas, local authorities will have no jurisdiction aside from standard criminal law. Any interference by local authorities will invoke civil and criminal penalties.

In return; the Philippine Government as the ultimate owner of the underlying resource on behalf of the people, will purchase all mine production at the fair world price and in the local currency. Due to legal reasons this will only take place on expired FTAA agreements.

This new arrangement will make for more transparent mining agreements, cutting the potential for corruption thereby robbing the people of the Philippines. Also it will encourage more environmentally aware mining investments and ensure the benefits of mining are more widely spread in the economy.

Mining has an important future for our people, and given the very difficult world economic conditions, we must not squander this opportunity."

What would such a scenario have for the company?

Has this been considered?

Feel free to flame away!!