LOL. I wouldn't even risk your capital on it arp33. My project is locked up in politics too. The advice I was given by the local government administration was to wait until the Governor loses his position. But the guy is a megapopulist and part of a dynasty. Ha ha - really encouraging advice. Actually - some things have been moving in the right direction lately, but it's so frustrating to see potentially billions of dollars worth of metal sitting in an area amenable to mining - and not much can be done about even exploring it because some bloke running on an environmental platform doesn't want to risk losing votes.
Frankly - if you are looking around, my best advice is to look at the projects that are already producing or extremely close to it (but even then, you can still lose everything, ala LaFayette). And in particular those projects that are in areas with a history of large scale mining are more likely to succeed.
There are a lot of corporate shonkies in the country who fleece capital on exploration projects that even they know won't ever produce (and no - that does not include Tampakan). So watch out for those. In fact, IMO, avoid them altogether.
I get introduced to nonsense projects all the time by an industry of mining shonkies - pinoys and whities. It usually doesn't take long to fail them with basic due diligence, (and it is always other factors than poor geology). But some people just see the rocks and get sucked into losing their dough on these, henceforth the projects just get "refinanced" by another victim.
The country is incredibly minerally rich - but that doesn't necessarily mean that your money or my money can make those minerals come out of the ground. In saying that - there are a few whities around and many many pinoys making good money with private shows that do actually produce.
Tampakan of course is its own case - with many unique factors that provide for the endless discussion on this forum.
IRN Price at posting:
39.5¢ Sentiment: None Disclosure: Not Held
