Looks like it will be a good month for Dave. Timor, of course, is on a separate island from PT Inco's operations, most of which, I think are about 200 km north.
Apparently the political calculus on the one side is that the Indonesian military is running Indonesia and will not cede territory. Their long term problem of course, is how do you occupy an island of different racial, language (portugese) and religion (catholic vs Islam) when over 80% of the population hates your guts and have recently had their hopes for independence increased.
On the other side, the US has told the Australians that it's there problem, and the Australians do not want to face off against the Indonesian military. Long term strategic issues dictate that any invasion of Australia would be staged through Indonesia, so Ozzies want good relations with whatever despot is in Jakarta.
PT Inco is, I believe, majority owned by Indo govt.
Something is going on in ni markets (duh!). Either European steel mills are taking off massive supplies, laterites/Glencore/hedge funds are being forced to cover, or someone is anticipating problems from Indonesia or Russia.
Dave's money is in the right place, (for the moment at least). For the sake of the rest of us, let's hope CMR gets the financing completed and starts to be taken seriously as a Ni producer.
Down 2c on no volume today, so still some way to go.
Will try to rerun Maskwa numbers tonite at higher ore prices. |
