RE:RE:What do we expect from TVI in 2014I don't think the lack of interest is very suprising at this time. We need the final permits for the Mindoro DSO project and Balabag. Without that, TVI doesn't really have a business. The Philippines government does not seem in a hurry to issue the permits. TVI just gave up most of its interests in the Philippines for some realitively modest payments. We now have a 32% interest in Balabag -- a project we used to have 100% of and that we worked on for quite a few years and that supposed to be operating years ago. That's a little depressing.
With PAVI as the majority interest holder in the Philippines hard minerals properties, maybe we can now get the permits. To me, getting a partner with influence with the government seemed to be the main reason to do the deal.
Other little problems include: (i) open pit mining ban in Zambo del Sud where we have Malusok and SE Malusok; (ii) no MPSAs for Malusok and SE Malusok (and a gov't moratorium on granting any); (iii) challenge at Supreme Court of the 1995 Mining Law: (iv) expected changes (likely increases) in taxes on mines; (v) lack of interest in our oil properties; (vi) continued hostility by certain groups in the Philippines against "big" mining and against TVI in particular in some cases; and (vii) an efficient and sometimes corrupt government.
I don't want to sound totaly negative but there definately are some headwinds. With the monetary infusion, we can probably stay in business for a while and hopefully long enough to see some operating income from some of the projects. If we can get the permits and actually build the new mines, I think we may see some improvement in the share price. It would really help if it started to look like PAVI will get better treatment from the government than we have (notwithstanding TVI's stellar record as a good corporate citizen.) The Agata Nickel project looks especially good and then maybe we can get somewhere in PNG.
Naturally, everyone should do their own due diligence.
Regards all,
Volpino