John and all,
Hi. I've been following this stock and thread for a while now (about a year). I think the current topic of discussion regarding the locals, is very interesting. Being from Congo-Kinshasa, I would like to give my view on this issue.
I think the locals will obviously have some resent towards the company taking "their" gold. However, right now, they are selling the gold they are picking to on-site brokers- who I don't think give them a good price for their gold in the first place. If the locals did get a good price, then they would all be well off- which they aren't. So, if they are getting an offer from STS that will give them a stable income and some benefits, I think they will take it. The government here has included in their agreements with the mining companies that they have to help develop the communities also (roads, schools, clinics, etc.) as we have seen with the Tenke and Barrick deals. These are things that either don't exist in the villages where the mines are, or are very limited in their capabilities. So, the locals can benefit a lot both ways.
Just my view.
Imran |
