It is a pity, this forum-friction between new and old investors; both are important. YTS was inspired by the original investors but it would not have been able to carry on without the funding from the subsequent exploration joint venture partners, most recently from FCX (which for some reason is not acknowledged in the video). FCX's decision on the 2014 exploration budget at KSK is awaited. Without FCX funding KLG might have enough cash to survive for another 6 to 9 months provided the board acts prudently.
People invest for different reasons, whatever are their motives, they should be equally respected.
Indonesian has the land and provides the opportunity whilst explorers has the tech expertise, spend the money and take their chances. I am 100% agree that the explores has the responsibility for looking after the locals well being and treat them with utmost fairness.
However, the local government has to learn to grant permits promptly and its people has to learn to accept that "those who take a big unknown risk have to be reward handsomely when treasure is found". Those who dare wins if and when they hit the jackpot, also these investors has every chance of losing everything when nothing is found. In the meantime, the money invested brings job, prosperity and opportunities. so learn to give respect to those who feed you and your families.
I don't mind to take the risk and invest in a company like KLG, however, I detest the mockery sentiment expressed by of some posters on BB -" you trespassing on our treasure, if we are not after your money investment, you never welcome here" attitude. After all its a business venture agreed by all concerned, no one ever point a gun at the locals head, did they?
The benefits are as Dayak Elder Medha Martinus says in the video - ""Let's develop together, holding hands, supporting and understanding each other. Let's work together and benefit together. Do not let one stakeholder lose and the other one win. It's that simple."
IMHO he is right and so is the company - both to have funded YTS and published the video.
And so is updo. In fact, the similarity of phrasing between his recent posts and some of the things said in the video is quite startling. For example, the use of the term 'stakeholders'.
The thing that is offensive about some posts on this board by the 'earliest investors' is the implied assumption that AIM investors are a morally-cretinous sub-species who must be continually reminded that company shareholders have a responsibility to the local population.
It is not the arguments that updo makes that are objectionable but his quickness to assert the moral high ground and assume that the first investors have a monopoly on virtue. Just how stupid and selfish does he think AIM investors are that he feels we have to be told over and over again something that should be blindingly obvious to any half-intelligent human being.
Perhaps the earlier investors could set an example of 'working together' by recognizing that AIM investors are 'stakeholders' as well and many of us share similar good intentions. We are supposed to be on the same team.
The latest deep drills produced nothing. Air survey produced little to excite about.
The only good news is "The logging company operating in the area has reopened old roads into Tumbang Huoi, Volcano, Beruang Kanan and deeper into the central part of the COW. This will provide new access which will hugely assist our logistics and greatly reduce the cost of helicopter support for next year’s exploration program."
Even this is only useful if Freeport decides to continue operation next year. If Freeport departs, I wonder who else will believe the " treasure to be found" slogan that cost investors $30m to date?
Wiser for Freeport to spend $10m in my backyard, at least people in my neighbourhood will appreciate the investment and prosperity it will bring. I guarantee no one here will moan about they take the dirts out of the ground!!!!
37 prospects had already been identified and they have come up with some more. Mansur was one of the first discovered using the most rudimentary method..."panning" and now just look at the pictures!!! I remember Mansur saying that no matter which creek they panned they collected gold alluvial. Look at the size of TH... I think they management has always be very coy about the potential of KSK. Maybe partly because of Bre-X I dont know but what is sure in my view is that they have always acted very prudently .
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