No matter polished and diplomatic Doug Pollitt’s script might be, you’d be well-advised to listen. This from today’s NR:
Over the last six months Royal Road has engaged in an exercise of assessing global political trends and observing policy development in its host countries to evaluate potential impacts on the mining sector and on its current project portfolio. The Company perceives broad global trends, reinforced by policy makers at a national level that require a proactive response.
Royal Road will adapt its general strategy such that for any jurisdiction it will rigorously and efficiently rationalize exploration portfolios down to single assets of world class copper and gold potential. The Company will focus on these assets, suspend, vend, or joint venture its remaining portfolio and then advance and repeat in different, prospective and supportive jurisdictions. The Company’s aim is to own or part-own several world class copper and gold assets spread across different jurisdictions and with most effort applied to those jurisdictions which are operable, financeable and provide evidence of long-term support to the mining sector.
“The last few months have seen a very deliberate and extensive study of current trends and a thorough and honest analysis of Royal Road’s past, present and future. The outcome is a modified strategy which we believe is adaptive and necessary in order to best mitigate rapidly shifting geopolitical trends and position the Company well in relation to its objective of quickly identifying world-class copper and gold assets in operable and mining friendly jurisdictions,” said Dr Tim Coughlin, Royal Road’s President and CEO.
Unlike the vast majority of this sordid sector, the people running RYR have a moral compass and have acted. They are clear about the issues facing Colombia under Petro and Nicaragua under Ortega, though it’s ironic to consider how all the hate is going to go in Petro’s direction this year once his plans for the mining sector are rolled out (dem Commies!) Meanwhile Ortega’s dictatorship gets a pass and Canada tries its very very hardest not to think about the way that country is being run. That’s cos Ol Dannyboy lets you mine the gold and all you guys have to do is keep the special G&A line items coming.