In an earlier post I was very positive about IAU however after reading through today’s announcement I’m less pleased…. the big worry for me is that the door seems to be wide open for the Indonesian Govt. to block the mining of the resource as the resource isn’t currently able to be open pit mined as it is in a designated  “Forest area” where open pit mining is forbidden. As the resource is low grade (albeit most likely massive) the economics look dodgy for an underground mine….

But have a read of today’s announcement “MANAGEMENT’S DISCUSSION AND ANALYSIS”  and tell me what you think.