OK, the stock of PNOC-EDC - the geothermal company - closed today - its first day of trading - at P4.55. The IPO (Initial Public Offering) price was just P3.20. That's a profit of 4.55 - 3.20 = 1.35 profit per share. 1.35/3.20 = 42% profit on your investment in one week (because you only had to pay for the subscribed shares last week.) And it may very well keep going up, since the foreigners regard this company well (the Philippines is #2 in the world after the U.S. in geothermal operations. We almost lead the world in this sort of thing, and we are adding more geothermal sites. ) We can only hope that the bull stockmarket this year continues throughout 2007, and then beyond.. It will, unless there is a coup, a major civil disturbance, the U.S. downturn is steeper than expected, or Iran/N.Korea/Iraq/something international explodes. But many international mining companies are in the process of joining with local companies in this, the fifth most mineralized country in the world. Too bad our politics suck.