As of October last year the average mining project would need to...

As of October last year the average mining project would need to go through over 1500 applications/ permits, averaging over 3.5 years. The government over there is trying to halve this number and get rid of the need for duplicate permits. The big hold up as you have alluded to us the increased movement towards sustainability. This means projects location is an extremely important factor. If Mandrake did find something and went down the track of mining it would be improbable to see anything move quickly or early production as certain people would have you believe. This is all without considerations for energy and water requirements and availability. The sovereign risk is a complex issue with a big hurdle dodged last year, however it is still an ongoing concern in the region. It is for this reason the value of the company is reflecting the position they are in. If the company finds a huge copper reserve that can be feasibly taken out of the ground there is a huge upside to valuation. This is not financial advice DYOR.