It's called walking awayFirst off, I cannot believe that underwriters can legally manipulate the stock price so that it doesn't reflect market demand. In the U.S., openly manipulating the stock price by underwriters results in jail time.
Didipio. Just walk away from the project. It's that simple. Stop burning $Millions in cash that achieve nothing.
Let's say that Pres Duterte grants a renewal. His term as President ends in June, 2022. That's less than 20 months away.
The Philippines' government has a history of graft, corruption, bribery and failure to follow traditional Western business practices. For example, allowing local government officials and eco-thugs to block mine access to the company that's pumping $Millions into the local pockets, even while no mining activity is occurring. So there is absolutely no way to guarantee that after June, 2022, OGC will be allowed to operate, FTAA or no FTAA.
OGC risks what-- condemnation by Philippines officials? These same officials that allow armed thugs that threaten OGC staff if they set foot on the property?
Should OGC be afraid that the company's reputation might be harmed by walking away from Didipio without spending many $Millions to return the property to a forested, pristine state? Ha!! Again, OGC staff would be doing such "return-to-nature" work with guns of eco-thugs being pointed at them. And there would be endless charges of "it's not being done correctly", etc.
Should OGC be worried that by walking away right now, that the Philippines gov't would sue OGC in some kind of international court? No! Again, the past and current actions of those menacing eco-thugs and local corrupted police displays the non-effectiveness of the national Philippines gov't in providing a safe environment to do any "return-to-nature" activities. Any Court would side with OGC. If not, ignore the Court's decision. That happens all the time. The U.S. continually ignores nutty decisions and sanctions from "international" courts.
If the Australian gov't demands that OGC pay to restore the Didipio mine area to forests in order to placate Philippines officials, make the Australian gov't provide (and pay for!) Australian military troops on site to protect the OGC workers. That would be the only case where OGC might consider making an effort to restore the area.
Just walk away.