You make a good point about OGC's environmental pedigree , and NZ's strict environmental regime , and exporting same to the Phillipines. They are indeed exemplary in this area and if similar policys are implemented in Luzon there should be no problem with this. Operations such as Lafaette's Rapu-Rapu do not help the mining industry's case.
Also, as Didipio is located in Luzon, and not Mindinao, communist insurgency is far less likely to be a problem also.
Leaving only the endemic corruption ( at every level of official ) and the opposition of the ( very powerful) Catholic Church.
Both have been significant problems for miners in the past, and both are unlikely to go away soon.But both can also be dealt with effectively, though it will require a dab hand from OGC management.
At least the current Phillipines government has evidenced a desire to rekindle their ( nearly dead) mining industry, back to some semblance of what it once was in the 70's. At that time the P.I. was a significant mining power, particularly in copper. Years of corruption and poorly thought out legislation reduced the industry to insignificance over the following 30 years.Whether this will translate into something solid , or just become empty rhetoric , remains to be seen.
I also note Martin Creaney has been appointed to the company for the construction of Didipio.This is a major plus, as he is hugely experienced and highly competent in this area.
Thus far, I would say there have not been any major success storys coming out of the Phillipines mining industry in recent times ( correct me if I'm wrong please) But they are on the cusp again, having a huge mineral endowment.
Let us hope that OGC is the first, and good luck to all holders !
OGC Price at posting:
$3.74 Sentiment: ST Buy Disclosure: Not Held
