RE: RE: RE: Question for the crewI've held back any response up to now, but feel I need to at least tell our new poster a few things to help him along.
First of all.....if you feel you need to get involved in the legal and intricate wording of the new mining law, then I think you are putting your efforts in the wrong place. Every company in Indonesia that is active in mining or exploring there has its lawyers on the case, and they can do a much better job of dissecting these new laws than any of us would like to. Basically, the bottom line is that the new mining law is different than the old CoW system, but in essence will work fine for most involved.
If any of these mining company lawyers, who are paid big money to verify stuff like this found that it was silly to continue to do business in Indonesia based on the new regulations, then I am pretty sure that we would see an exodus of companies leaving the country for greener pastures. As this is not the case, I will safely assume that the legal departments in question have okayed the new regulations and that is good enough for me.
Having said that, the best advice I can give you is to read every thing written on the website that SA so kindly keeps updated for us. Anything that you may or may not understand can easily be responded to by IR, who are more than happy to keep us informed and aware of whatever information they are allowed to share.
As a long retail investor my time is best spent finding answers to questions that are more in line with my wish to make money on this play....such as...
Do we have valuable ore and enough of it? Are the final IUPs coming in soon? Will any of the properties be monetized this year? What is managements strategy for all of the properties going forward? Are we currently negotiating with majors for any of the properties? How much more drilling needs to be done before any cash flow can come of any property in the form of a deal? What about CNI......when will the well be online and creating cash flow? When does it go public? At what price? What were the last drill results for Pelangan?
Such things are more important to me than the wording of a document that is best left to lawyers and that has been studied to death for the last year by all parties involved. A waste of my valuable time at best to look into that issue when much smarter people than I are being paid to do so.
Think bottom line and go for the stuff that isn't published. Anything published has already been ripped apart here and done over and over again. It is those things that are not published that we need to get a handle on to try to imagine hoa a picture will present itself.
Think in this sense...................
What is the game plan if there is less ore than we think? What if one or more properties show a lot more promise than we imagine? What if Selodong ends up to be a huge elephant or what if it turns out to be less than mineable? Does Pelangan actually have very high grades and what would it mean for the company? Will East Elang be worth anything to Newmont, or is Newmont simply going to dump all of their activity in Indonesia due to the fact that the old guard there is p-ssed off?
Those are the things that pre-occupy me and keep me here, because as they are answered, the picture becomes more clear...............It is those things that I cannot read anywhere that keep me interested and which are fun to debate. All the other stuff is simply old news to most of us here.
You will find few people willing to share unless you have first made the effort of speaking with the company and getting a feel for what they will share with you.
Would you ask my sister in law about what my uncle likes to eat for breakfast or should you walk up to him and ask him?
I say the latter..yes?
Cheers and good luck in your quest for answers.............. (The PDAC would also be a great place to get filled in.)
Vwig.