the church & the open pit ban, page-8

asf, if you will indulge me on this one..

Gold is universally considered a store of wealth, the majority of which sits in underground vaults.

Whilst immobile in a physical sense, the deposit at Tampakan also represents a store of wealth.

I have previously attempted to debate the case of Bouganville Copper in the past with HappyCats but it doesn't suit his shorting thesis. They were shut down by the Bouganville Revolutionary Army in 1989. Their shares still have value today (bigger market cap than IRN).

Their quarterly production reports are remarkably consistent 'there has been no production since 15 May 1989'.

Given that SMI's original FTAA has 9/10 years, with an option for a further 25 years to go, buying Indophil shares at this price is a no-brainer for believers in gold and the continual destruction of value that the fiat monetary system delivers.

The bonus (and significant re-rate) is if they get to the approval/production stage.