If you're pinning your hopes on Bellary Springs forget it. Bellary Springs will never be more than a side issue. It's well known that the resource is quite small. Not to say that it might not make some money for PEL. It well may since it is quite close to infrastructure but the main play has always been Romblon.
Now, with regard to Romblon, the problem has always been a political one concerning as it does the granting of Phillipine government permits. The locals are keen for the project to go ahead as they are desparate for the jobs and income. They have even petitioned for it to go ahead. On the negative side we have the Catholic church and certain NGOs who have their own vested interests at heart. The meat in the sandwhich is the minister for mining Atienza.
Current negotiations are currently on a knife edge. It could go either way. Whatever happens, it's not the company's fault. They are in the hands of greater forces..
PEL Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
