There’s a lot of unsubstantiated rumours floating around about RAP, some of which is understandable because KNL is still a speculative stock, and it’s what we’re all doing, speculating. But I think it needs to remembered that if Spinks becomes aware of any material change in its cost, or major problem, or serious delay, he has to update the market. It’s his directorial duty and I do not believe he’d consider agitating ASIC for the sake of Euroz selling, or whatever conspiracy others here may be running.
I’m not talking about a hiccup which results in a month delay, I’m talking about the absurd figure another posted of $10m! Really? Do you really think the few families requiring relocation from their subsistence farm are going to require $1-2-2.5m a piece? In Tanzania!
The 388 figure quoted above sounds like it’s the total people affected by any activity which will take place at Epanko. It includes those who might hear a truck over the hill, but the number actually requiring compensation or relocation are only those directly impacted by the proposed Epanko mine (either within the mine-site area itself, or on a proposed road).
I mean consider the mining tenements within Australia, the ones which run through the middle of a town. An actual town with running water, gas-pipes, electricity, schools etc. the greater majority are never touched by the local mines, despite being within the “impact zone”. So they’re not eligible for relocation compensation.
I also do not believe the 388 “affected” people are a liability, they are a resource! Sure, moving 388 people is a massive task, but it’s not what we’re doing. Have a look at the photos, satellite images etc. there isn’t any type of a village, major or otherwise within the proposed Epanko-area mine site.
It’s why Spinks hand-picked it!
We’re talking about a few poor families and as a result of their relatively recent migration to the area they do not even hold title. This is literally their one ticket to break their abject poverty. Look at the mine site, look at the cross sections of soil, look at the pictures of the locals. We aren’t talking about multi-generational claims to rich-deep farming soils.
We’re talking about poor families, on poor farms, and a few people who only want a better life. Epanko isn’t just our meal ticket, it’s theirs too.
KNL Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
