Domum, I used to know more about AUG a year or two ago than I do now, if that makes any sense. There are also a number of HC people who haven't commented who know a lot more than me on the subject and some even are based in PNG.
AUG could be forgiven for wanting to get as far away from Indonesia as possible after all they've been through. In past years, they've had to write off some very good mines to effectively nothing in their accounts and have lost tens of millions of dollars on set up work and so forth after the Indonesians refused to recognise previously well established claims and did little or nothing about illegal mining by locals and the time bomb of an increasing mercury problem (not AUG's fault). The chance of being asked to pay for a full scale clean up (a problem brought on by illegal mining) and whatever else might be demanded is not attractive to any foreign miner who wants to establish full scale operations again.
PNG is easier than this and there is more local support and recognition of law in the case of Morobe (to the best of my knowledge), but there are other issues and the elections under way at the moment have been described by some as the most important since PNG gained independence. For me the bottom line appears to be very substantial upside versus a drifting back down to cash backing a few cents below the current price. I haven't pulled out all the stops in trying to track down what's really going on and what the chances are of a favourable outcome, hoping in part that those better placed to judge will comment.
