RE:RE:American Lithium talked about Potash in Perucyber37 wrote: "they dont know why".........Perhaps this delay in issuing permits has something to do with Falchani & Macusani lease blunder. American Lithium MUST clearly state/resolve this issue and communicate this to shareholders! STOP blaming delays on the government …..clean up your house first. As a shareholder I question the administrative competence of this company! Maybe this new IR outfit they just hired can look at this issues?
The only fast solution to the concessions issue would be a direct arrangements with the other parties, that is, with Ingemmet and Minem, as was discussed a lot in the PLU days. However, the reality is that such an arrangement with state entites in Peru would need the kind of leadership that has been missing in Peru in the last governments, and even more in the current one.
Without an arrangement, the only possible solution I see is through the judicial process, and although extremely slow the results until now have been encouraging. The arguments used by Ingemmet and Minem have been very poor, and the favorable first court decision by judge Hermoza Castro didn't even need to contradict them. The company seems to be very confident about a positive solution too.
Regarding the delay in issuing permits, I think it has to do more with technical observations by Minem and other state entities. In the specific case of Quelcaya, the permits were denied
on March 15 because the observations (which doesn't look very serious) have not been fully corrected. Haven't found an analogous resolution about Falchani infill drilling but we could assume that the situation is similar. Is this an evidence of administrative incompetence on the part of $LI or its local subsidiary Macusani Yellowcake? Probably, but to be fair I must say that to my understanding most junior companies experience these observations and delays when getting permits, and this is in fact one of the most common complaints among the junior companies operating in Peru.