Without a Phillipino partner, its never going to restart - the crucial wording was that it was dependent on 'government policy'. While the UGM is a rich long life resource, the big profits were always dependent on being bale to mix lower grade open pit sourced ore with the high grade UG ore to maximise the productivity of the plant and all associated infrastructure. Just look at th SP of OGC .... OMG .... even the biggest miners are powerless against an intransigent anti-mining bureaucracy. The best outcome would be to sell it and move on. Currently there's no Siana in the SP valuation of analysts ... actually it costs $6m per year to keep it in C&M mode. The Phillipines is just not safe place to invest.
Siana, page-3
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