open letter to mr drummond, page-2

I would certainly ascribe a zero valuation to a mine (The Iran Lead mine) that is only profitable if the following occurs.

1. Overthrow of a long standing national government.
2. Installation of a stable new government (key point STABLE).
3. New government recognizes the property ownership of a foreign company on it soil.
4. New government does not erect barriers to the economic development of the mine such as large royalties, minimum local employment percentages/total numbers.
5. Debt funding is readily available to the establishment of a mine in a country with recent political upheavals.


Yeah, they sure should have given that one a big zero.