RE:This is maybe why?Vinnie3 wrote: I found this in a French european newspaper , it does not apply directly but how do we check if CXB having a US operation cannot now deal in nicaragua....like the banks, are gold companies caught in the same bind maybe yes maybe no....Here is the excerpt:
US sanctions aim to freeze any assets those designated have under US jurisdiction and forbid any US individuals or companies -- including international banks with US operations -- to do business with them, effectively limiting their access to global financial networks.
We have to check the legislation and see if CXB is deemd a US company for purposes of this sanction on gold as opposed to banks. Please someone find the exact wording of the new legislation and look for those kinds of words
That's a good find. I mean I'm just assuming that Calibres Nicaraguan subsidiaries pay royalties to the mining directorate, but they could well be paying them to the country's unsanctioned Treasury or Finance ministry equivalent. And if that's not true it can become true pretty quick. I still don't think this will be disruptive to Calibre, but we will know for certain once the company hears back from the US Treasury department.