RE:RE:RE:RE:RE:RE:RE:RE:and the bottom line about Rick Rule is this: he is a used Leisure,
There was Company specific news. The new mining law in DRC. I won’t bother itemizing it bullet point by painful bullet point, but rest assured it laid low this mining company. Buyers fled and/or sold. Short sellers came in and walked this downstairs against zero support. The government set up a sunk costs trap. Got everyone to sink billions into projects that would be difficult to walk away from. Then they abruptly cancelled signed 10 year stability agreements that are legally binding under international law. And they replaced them with illegal instability agreements that aren’t worth the paper they’re printed on. Now they just had a democratic election, and the loser was declared the winner. Isn’t the DRC a wonderful place?
There is some good news. Platreef is in South Africa. The Company is loaded with cash. All DRC projects are still at prefeasibility or feasibility. Nothing has been built. Chinese state miners are partners and may be able to exert a positive influence in the final outcome.