WMC started planning to develop it 20 years ago. 5 years won't be enough. Bequeath the shares to your great grandchildren.
Price spiked on the news of the policy. So there was price influence there. The market has now absorbed the reality. The themes of HOPE, delusion and reality are well covered on these threads.
Unfortunately, the policy is no saving grace - the outcome - "go to court" is the least desirable option. The approval process is lengthy and somewhat convoluted. Overturning the ban would provide little security when local govt has decision rights in much of the long list of approvals - mine, power, port, infrastructure corridors, etc. All the ban does is show Sth Cot's intent upfront. Investors with insight and an understanding of the word "ban" should be grateful, lest they be led even further up the garden path. The head of DNR, Paje, has said as such - get rid of your conflicting local laws, but don't worry, you can veto projects during the approval process. The Pres himself has said he supports mining, but only where it is supported locally.
There has been no work on site since the latest NPA hit. What will be the share price when Xstrata shift the Tampakan liability off their books? 35c was support - now it is resistance. IRN are laden with cash and good management. I won't be surprised to see those put to work elsewhere in the near future, with something more secure. There are plenty of other untouchable deposits in the world, and in the Philippines. Tampakan is not unique in that regard.
Are you still here Apples? It's been quiet here. Are all of the A crowd now gone, or is it only because there has been no silly media spin to cut and paste of late?
IRN Price at posting:
32.5¢ Sentiment: LT Sell Disclosure: Not Held
