Colombia!I think we may have to take the blinders off, at least for a while. IMHO the share price is down in part to the uncertainty of the Colombian mine approval process. Greystar was trashed, AngloGold has expressed frustration with the confusing permitting process and announced at least a two year delay in start up of their huge mine. For all the promotion of Colombia as mining and investment friendly, their track record says otherwise. That has investors nervous.
Batista and VEN have been totally silent. I doubt Batista will throw more money at GWY, or anyone else, until he has assurance of approval for the VEN mine. Myself, I am still investing in GWY but I am a bit nervous over past Government statements about also protecting sub Paramo lands. I hope that does not mean drainage routes below the 3200 foot elevation that would impact GSL, VEN and GWY.
Colombia must remove the uncertainty. And, let us not forget all the existing artisan and illegal mining on these lands that pay no taxes and money funnels to local officials and drug gangs. Legitimate mining threatens that illicit income so we can expect more paid "environmental" opposition. So far the government has not even partly sided with legitimate miners in these disputes! To my knowledge they have not responded to the AnglGold comments which indicates confusion still reigns in Government circles.
Anyway, we are probably going sideways until the Colombian Government clarifies the approval process. If a giant like AngloGold hits the wall, it does not auger well for us in the short run.