RE: President's Page is out - excerptfrom the new PP:
"Corporate negotiations are progressing... As I indicated in my last President's message, we continue to make headway in our detailed negotiations towards accelerating the advancement of the Company. These negotiations are complex and involve extensive due diligence by the interested parties.
As part of the discussion process, IBI supplied extensive briefings on Uganda to the various parties interested in our operations. These briefings provided convincing proof once again that Uganda is an outstanding jurisdiction for investment in the minerals sector in general and accordingly, for investing in IBI in particular.
Here are some of the highlights from the information we provided:
Huge resources in a variety of precious and industrial minerals
Government very favourable to investment and business growth
Strong, well established IBI "relationship capital" with the Government of Uganda, particularly with those government departments involved in minerals and mining
Stable political environment
World Bank support and advocacy
Mineral development a top government priority
Many investment incentives
Strong incentives for exporters
Protective attitude towards investors
Sustained efforts to eliminate corruption
All of these factors point to a positive forward economic and investment scenario for Uganda and IBI.
It's clear to me that this positive environment, coupled with the efforts IBI is making to accelerate the advancement of the company, are registering with many of our shareholders. A number of experienced shareholders have indicated to me recently that they continue to have confidence in the Company and are viewing current circumstances as a significant buying opportunity. The result is that that they are increasing their positions.
It's a positive reminder that for every sale, there is also a buyer who sees an opportunity."