St Augustine Gold and Copper Ltd T.SAU

Open-pit mining remains unacceptable for Duterte

[Hcgfllkp]

https://www.pna.gov.ph/articles/1144024

[singlefile]

yes - it's how he operates, KING KING to big to fail ... complete-turnaround-philippines-duterte-lifts-ban-on-new-mining-permits - open pit will be next ... https://news.mongabay.com/2021/04/complete-turnaround-philippines-duterte-lifts-ban-on-new-mining-permits/ ‘Complete turnaround’: Philippines’ Duterte lifts ban on new mining permits‘Complete turnaround’: Philippines’ Duterte lifts ban

[singlefile]

oops .."too" big to fail )))

[Hcgfllkp]

Looks to me like SAU is going to have to rethink how they mine this - eliminating cheap cyanide heap leaching might be a start.

[shawshank2]

.I wouldn't put too much stock in the words of the president's spokesperson. They have postured in the past. Without open pit they will only be able to collect a fraction of revenue

[rapid_fire_]

This post has been removed in accordance with Community Policy

[Hcgfllkp]

A compay working toward a low grade open pit mine in Romania - a tough country to get certification - has a bankable feasibility study that includes zero cyanide, no wet tailings, no harmful waste products - and no coal fired power generation (that is inluded in SAU pre-feasibilty study.)  Not sure if these particular methods would work in PH, but this show that greener mining can be

[shawshank2]

that's the spirit

[kingkingmaster]

https://www.bworldonline.com/eo-silence-on-open-pit-mining-seen-delaying-denr-approval/ i hope this is just posturing so as not to show they are railroading the process. i mean the draft IRR is out there for all to see. the repealing clause is there. without it, EO 130 is useless. Nevertheless, looks like strong appetite for SAU shares at 13.5c. Bought more at 13c yesterday, only time will tell

[shawshank2]

This is just a rehash of the press conference. As I have learned in the past 12 months trying to follow this what the politicians say doesn't mean anything. The government has gone on and on about getting revenue from mining and even pushed out eo130 randomly. The only way Phillipines can attract investment to get mining going is by allowing Open pit. Period. Other mines are too small and

[Hcgfllkp]

“both the President and Secretary Roy A. Cimatu agreed that the mining industry must reinvent in a manner that would ensure that it is sustainable and would cause the least damage to the environment.” This, to me, says it all. They would support open pit mining if the companies can design methods to mitigate environmental damage. But they ain't going back to the old destructive ways... 

[db2067]

The environmental standards have been updated to the level below - they can add on some more environmental protection regulations and then it should be good to go...   https://www.philstar.com/business/2020/09/18/2043181/miners-roll-out-sustainable-mining-initiatives   Louise Maureen Simeon (The Philippine Star ) - September 18, 2020  MANILA, Philippines — After nearly

[shawshank2]

That's clickbait. He then goes on to say matter is being reviewed by dnr and miners will have to be responsible blah blah blah. If they want revenue from mining they will have to allow open pit