Hi Vette

I have been doing some thinking on new resources and I am wondering is there any attempt by the mining industry to factor in the jurisdiction as a tangible asset? I know I asked about this before but the more I research the industry, the more important it seems to get. Just this week, we see more issues with mining permits (GG) and power and water issues (including Teck) in Chile. Argentina is having major investor trembles with YPF, FCX are continually having issues in Indonesia and South Africa is struggling with both power and personnel. The list goes on and on.

Schaft Creek seems to have very little issues here with the obvious exception of winter and possibly manpower shortages. But yet this never seems to be factored into the valuation. Where are the new Xstrata resources? I know the article says their new projects are coming in on schedule but are they in as friendly a jurisdiction as Canada?

It would be nice to be able to price this into the valuation

Any thoughts?

bbay