Thanks Uncle Panda, always good to hear your well-articulated...

Thanks Uncle Panda, always good to hear your well-articulated thoughts.

It's true we're in a more politically-stable environment. However, I believe that is more perceived risk than actual. The Australian mining tax is a perfect example how the bottom line can be affected instantly. Also, China is very influential in Africa and they will not stand on the sidelines if their economic interests are being jeopardised. Especially when they're trying to break the I/O duopoly of us and Brazil by creating a third I/O pillar in Africa and reduce their dependence on us.

I guess what I was trying to say is that there's a lot more upside with those other miners I mentioned due to hype, and potential return, and that's possibly another reason we're behind. Obviously the main reason is the permits and the port allocation.

The market certainly agrees. So far. Just look at the SP performance over the last year. Oh, and I disagree on SDL. There's no way they are not going to produce. There's too much at stake to pull the plug.

Not that I'm discounting CAZ at all (I hold a fair bit for long term).