mpsa, page-7

My opinion is that any mining venture in the Phillipines is a very risky undertaking, have a look at the demise of Layfayette (LAF) and other reported terrorist problems that have affected existing mining operations. Also corruption in the Government has been rife for decades and i have a concern that considering the unbelievable delay now incurred in obtaining the MPSA that this will not be resolved until Pelican Resources meet their demands.
It is extraordinary that after all this time Management of PEL have not given their shareholders a complete picture as to why this MPSA has not been issued by now.
I bought into PEL simply due to the agreement with BHP, however it needs to be noted that BHP pulled out of their joint venture with Minatour's Prominent Hill venture.
If this issue is not resolved shortly you could expect BHP to "pull the plug" on Romblon.