21 Feb Asia’s Last Gold Frontier
Asia’s Last Gold Frontier
Angkor Gold is the first North American-listed company with mineral assets in Cambodia and will be among the first to realize the value of this new and untapped region.
The Kingdom of Cambodia, which is bordered by Thailand, Laos, and Vietnam, is a country with rich history and culture, most notably known for its Angkor Wat temples, the largest religious monument in the world. While mining is probably the last thing that comes to mind when thinking of this country, Cambodia does indeed have a developed mining industry, with its primary products being crushed stone, limestone, sand, and gravel.
Precious metals are not well represented. Most of the mines are small-scale, artisanal operations. The first soon-to-be-operating gold mine, Phum Syarung, is a product of collaboration between Mesco Gold Cambodia and Angkor Gold. In fact, on September 12, 2016, Phum Syarung received its commercial mining permit—the first of its kind in Cambodia.
Investors will take notice of this development. Historically, Cambodia has been an afterthought in the minds of even the gutsiest of investors. That was the truth, but things will change now.
The current government is providing much needed stability to the country’s political system, and has been integral in the development and maintenance of investment ties to the outside world. The country has slowly been integrating foreign expertise into many sectors, and this openness for cooperation with foreign investors has led to a strong inflow in capital, something we predict will grow exponentially. The granting of the Phum Syarung mining license was a step in the right direction.
The government of Cambodia continues to work towards improving its national platform, yet most mining companies still prefer to explore elsewhere. While the recent recession has been tough on the global resource sector, the emerging-market jurisdictions offer incredible exploration potential that has been lately ignored in favor of the more established ones, like Nevada or Canada’s provinces.
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Source: Frontera News – https://fronteranews.com/
Sean Zubick, Partner, Palisade Global Investments.