PAASF in Russia:
Thanks for theh comments.
For reference, pls see the post by Mr. Ray Hughes (#1295).
Re: Your Post
"As far as what it covers, I'd assume (you're free to assume otherwise) that it would reimburse PAASF the nine million if they are unable to proceed with the project due to
the disintegration of the Russian government, its actions and the actions of its subdivisions or
agents, or of the actions of any successor government etc."
That may be true, but I doubt it covers their giving up on the project or the project being uneconomical due to problems with the unions, the mafia, their suppliers (transport industry, utilities, etc.) or their business partners. You can bet all will do their best to squeeze what they can from PAASF.
"I think insuring the nine million and continuing with the feasibility studies and getting the mine
ready for production if economical is the only reasonable course of action. What would you have
them do, abandon the nine million and drop the project?"
For now, as Ray mentioned I'd like to see them find a way to keep it on the books as a resource property without incurring further costs. Perhaps if there is a temporary improvement in the Russian situation and an improvement in silver prices they can sell the project to one of the majors. I personally think it is too risky for a company the size of PAASF to try to pull off a $200M project in an outlaw casino like Russia. That's just my opinion.
Good luck,
THC |
