Ahhh, it's not all that important. I would tend to agree with your assessment of VSE deals, but stress that there are a few gems scattered amidst the soil. I strongly believe that Mosquito's Siberian properties may number among them. Having said that, I am a firm believer in the "if it looks to good to be true..." philosophy, but when the former Soviet Union collapsed, opportunities presented themselves abundant.
I subscribe to the Interfax News Agency Newsletter, and while I'm quite sure they're seriously biased towards new business in Russia, they are also a very highly respected agency. According to them, All the major oil companies are in Siberia or just off the coast, and Barrick, Phelps-Dodge, Placer, and numerous other mining companies are exploring or developing properties there.
Much like South Africa, investors would breathe a little easier if the political climate softened somewhat... but at least it's not Angola or Iran. And Eastern Siberia has some of the most resource-rich (and under-developed) areas in the world - bar none. Any geologist would concur - ask Charters.
America, the cold war is over...
DD |
