Siana was placed on C & M last year with no financial recognition in the Q cash reports that followed. On August 1, last year, approval was given for the permit to proceed with the LTTF. The next Q report showed A$ 1.4 mil spent on Siana. This was followed by a A$ 1.6 mil spend in the Dec Q. That’s A$ 3 mil in the last 6 months. Don’t know what the money is being spent on but things are on the move at Siana, starting with small steps.
My guess is management are getting Siana ready for a restart following a change in Philippine government after the next elections, hopefully bringing the long awaited certainty in Phillipines mining policy. If Duterte retains power, IMO, RED needs to give up on Siana, maybe recovering some capital, if possible.
Gives MW plenty of time the work out how to finance the restart. There’s also plenty to play with at home until then.
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Quiet activity at Siana?
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