RE:RE:RE:RE:RE:RE:RE:The trading floor has descended into absurdityDave,
President Ramaphosa of SA was a director of IVN for ten years. He is very pro mining and this is incredible good luck for IVN. The former Afrakaans apartheid regime, together with their White farmer supporters institutionalized Black serfdom. Should a bunch of people who originally seized land at gunpoint be compensated if they are then compelled to return a portion of that land? Should land which was obtained through extreme violence, then require compensation on the basis of private property rights? It's a complex question, without an easy answer. There is an American precedent. General Douglas MacArthur as military governor of the post WWII occupation in Japan, redistributed land to tenant farmers at the expense of large land owners. You could equally claim the USA did not respect private property rights of Japanese landowners, most of whom were strong supporters of the wartime Imperial government. President Truman would not have agreed with you. Nevertheless, Ramaphosa is proceeding cautiously. The bill was sponsored by the opposition.
There are not many projects like K-K or Kipushi out there. They are both unique. Some investors, Dave, have the wrong idea, and believe these types of rich deposits are relatively easy to find. 1000 geologists could spend a lifetime exploring, and will probably fail to find even one property that comes close in both tonnage and grade. It's the massive tonnage together with high grades that make K-K so unique. Usually you find one or the other, but not both. Because operational costs remain constant, double or triple the grade, say from 2% to 6%, can leverage profits a 1000% or better. Yes, K-K is part of the Copper Belt. But that doesn't mean Crown Jewels like these are all that common.