Philippines Lifts Open Pit Mining Ban

Back in November, I posted on St. Augustine. The Philippines was reviewing their open pit mining ban. I wrote then,

I think a lot of projects similar to this one are worth another look. Ones where the government or locals have opposed it for environmental reasons and importantly, this opposition is more general than specific, where the mine itself isn't clearly an environmentally destructive project but fell victim to the more generalized "green" sentiment, these projects will get second look in a weak economy.

The government followed through: PH lifts ban on open-pit mining

Clearing the horizontal at 14 cents is important because that is where the stock traded when the ban was initiated. More important is to see 20 cents cleared because that will open up a much larger move. With the price of copper higher than where it was when the ban was initiated, the stock should move to a new multi-year high. Should. The market sentiment is not bullish for mining shares right now.