The sovereign risk alarm is now flashing RED for OGC.
Enough so that I exited 4 days ago.
Oceania Gold is a great operator and I hope they can get through this scrutiny unscathed.
But the risk vs reward is just to great at the moment.
Another point to consider.
The western powers will not get involved in the territorial disputes in the south China Sea. They are going to leave the Philippines to fight it out with China themselves. So President Duterte may feel little sympathy toward western mining operators and as for the Chinese miners, well i think the Philippines Department of Environment and Natural Resources secretary Gina Lopez sums it up below.
DENR’s Lopez vows to kick polluting Chinese miners out of PH: All they think of is money
- Environment secretary warned Chinese miners in PH to stay compliant with environmental laws
- She said she won’t hesitate to kick them out if they don’t
- She also commented on Chinese culture, said it has become very materialistic
