Philippines President & Mining Regulations, page-15

Hi Guys,

This looks to be much wider an issue than simply an OGC specific one.

c. 20 miners were put on notice in the latest audit and there is a material risk that mines will be shut down.

I specifically avoided OGC for this exact reason. However, I wasn't that smart as I had exposure to B2 Gold which operates the Mastabe Mine which is located in the Philippines. They too have received an audit report.

It appears that B2 Gold's infringements are administrative and their news release sounds like it is fixable. OGC's, relating the 'social issues' seems more problematic and expensive to remedy.

Just another Southeast Asian nation not to invest in.

Cheers
John