Fortuna Mining Corp FSM

Currency restrictions

[Stratocheif]

Does anyone have any thoughts about the new currency restrictions imposed by Argentina? Seems like their gold mine there may not produce the profits everyone is expecting

[davey025]

explain please?

[Stratocheif]

Argentina is in dire straits. The peso is continuing to collapse. In an effort to prop it up they have implemented an additional 35% tax on converting pesos to dollars in order to stop the selling of pesos which drops their value further. So if you exchange 100 pesos for a dollar they take 35% so you only get 65 cents. Miners exporting their product and selling it in dollars will have to fork over

[tigris72poo]

we can repatriate $110 million from Lindfero without restrictions for the repayment of intercompany debt

[westcoast2019]

Scince Argentina wants more dollars coming into the country to prop up their dwindling US dollar reserves it makes no sense that they would discourage gold sales in dollars if it means more dollars entering the country in return for those same gold sales. I noticed that Argentina announced last Thursday that mining sales exports were going to be reduced from 12% to 8% .......... Economy

[Stratocheif]

Its all confusing. I wish i could get it clear because its very important. Ive read that all pesos will be taxed at 35% to convert to dollars. This applies to personal as well as businesses. If someone brings dollars in it is welcomed. If anyone has pesos they will be taxed to convert to dollars. Ive also read that miners producing now will face a big challenge because of this. Whatever