Tax update soon?It has been 90+ calendar days since PPP notified the Government of Mexico on June 02. If the 90 day period is in "business days", then the 90 day period would conclude on October 06. Long story short being good odds for an update between now and mid October. Hopefully a favorable outcome/resolution and no arbitration. If so, that might lend a spark to the sprak price and reverse some downgrades. If not, I guess we will see if the bad news is infact factored into the stock price.
My take is for a favorable outcome. With that in mind, shares shorted in PPP as of August 15 was 4.42M and or 2.37% of the float. With all this BS about interest rates, I would not be surprised if the short interest increased somewhat since. If a favorable resolution with Mexico, who knows, us shareholders just might catch a short off guard. I mean break.
"On June 2, 2016, the Company notified the Government of Mexico that the measures taken by its tax authority (the SAT) with the judicial proceeding seeking to nullify the APA, breached several provisions of Chapter 11 of the North American Free Trade Agreement (NAFTA) because these measures are arbitrary, discriminatory, unfair and inequitable. As such, the Company informed the Government of Mexico that, absent amicable resolution within 90 days, it intends to commence international arbitration proceedings pursuant to Article 1119 of the NAFTA."