Ron and all other Atlantians,
You are right. Things are looking promising. The Bre-x scare seems contrived and overblown by the media. Indonesia is a relatively safe place for the mining community (4th, after Chile, Australia, and Canada according to a recent United Nations report). They are strict with their regulations but they are clearly defined for those astute enough to follow the rules. Atlanta-Voisey have chosen someone who is very familiar with the intricacies of the area and the regulations. Herman Derbuch is immensely regarded in both financial and mining communities. He took Minorca from nowhere to over $6.00. Rumour has it that he has financing targeted for NEWCO at $10.00. I believe he is physically on the property in the Kutai this weekend.
The chemistry of people involved in this endeavour is very impressive.
The CEO, with a long background in mining and finance, the geologist who has worked in the Busang, the facilitators who packaged everything, the promotional abilities of Walter Brooks and the integrity of the Rollke's.
Do not be surprised when things start rolling along effortlessly as the Indonesian contacts are very highly placed. A key person involoved in the company has spent several years in Indonesia and continues to contribute in great measure to the effort.
The Globe and Mail has recently mentioned the merger, the recent property acquisition, and the announcement of Mr Derbuch as the new CEO. These are subtle influences in the recognition of a credible company in, still, the hottest area play in the industry.
If you are toying with the idea of selling right now but do not NEED the tax loss advantage, you might want to research a little further before divesting (IMHO).
Best wishes to all,
Dan Byrne
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