Nice close today for a 52 week high on good volume.
I've also noticed some comforting signs regarding the country risk factor.
From the quarterly report:
"Executives of Lafayette met with the Prime Minister of Australia, The Hon. Mr. John Howard, during
his recent visit to the Philippines. During that meeting, the commitment of both the Australian and
Philippine governments to ensuring the success of the Rapu Rapu project was emphasized and
recognition was given not only to the material investment required for the project construction but
also to the longer term contribution to export earnings flowing from mine revenues. Both
administrations have informally acknowledged the “flagship” status of this project in terms of its
relevance to other international exploration and mining groups’ investment intentions in the
Philippines."
And from the recent interview with Owen Hegarty, CEO of Oxiana Ltd
"Finally, in the Philippines, we’re working with some potential partners to
merge assets to get some scale and value. We’ve recently had a permit
approved and we plan to do some limited exploration on that. We still think the
Philippines is highly prospective, still under-explored and has recently been re-attracting
foreign investors."
LAF
lafayette mining limited