Too Funny, Why would the lower court hear such a caselet alone rule in its favor, given what THO says about it, assuming
THO is telling the truth and there is no reason to believe they aren't.
Since when a mining company is in foreign jurisdiction you want to
make sure all the i's are dotted, and t's are crossed and I am sure
they were. THO said they were.
Therefore how do we explain this from the company's news release?
From
Tahoe's Escobal mining licence in Guatemala suspended
Mr. Ron Clayton reports, 2017-07-05 17:24 ET
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aTHO-2485045&symbol=THO®ion=C “GUATEMALAN LOWER COURT ISSUES RULING ON TAHOE'S
MINING LICENSE
Tahoe Resources Inc. has received a provisional decision from
the
supreme court of Guatemala in respect of an action brought by the
anti-mining organization, CALAS, against Guatemala's Ministry of
Energy and Mines (MEM) (me-
first ruled on by a lower court). The
action alleges that MEM violated the Xinca indigenous people's
right of consultation in advance of granting the Escobal mining
licence to Tahoe's Guatemalan subsidiary, Minera San Rafael. The
provisional decision is in respect of a request by CALAS for an
order to temporarily suspend the licence to operate the Escobal
mine until the action is fully heard.
The company understands that
no Xinca representative or community is currently participating in
the CALAS lawsuit against MEM.”
me- To me it shows collusion between the Guatemala gov’t, the
supreme court and lower court, since what is at stake is the operations
of THO’s mine, and yet they weren’t allowed participation in the
court proceedings as if they have no stake it its outcome. Plus
that would have ensure fairness all the facts were being presented
and fastest resolution of the problem in the shortest amount of time.
No waiting for the case to come up again months down the road
in order of court cases by the supreme court to hear.
It reeks of collusion and exclusion, to apply maximum pressure on
THO
for I think the below.
To me,
going out on a limb, the Guatemala gov't is using the private
group CALAS who’s bringing the court proceedings on behave of
no indigenous or community people, as a proxy to renegotiate the
terms of the contract of the mining agree ment, with THO. Given
how important silver is going to be as the close cousin of gold, in
the future. As relayed by the ex Finance minister of Mexico, recent
article on the role of silver in Mexico and the world again. It's going
to be quite significant.
From
‘Silver and the Great Future of Mexico’
ex Finance Minister of Mexico, Hugo Salinas Price
https://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fiidarticulo=312 “Thus, Banxico's (Mexico’s central bank, and the Mexican gov’t)
monetization of a silver coin would create an important export product
for Mexico.”
Me- Why else even hear the case let alone rule in its favor of it if no
nearby indigenous people or community is being represented by the
social activist group CALAS and all mining conditions were met by
Quatemala and THO before company operations began, and both the
lower court and higher court knows that yet ruled in CALAS’s favor.
ie from the THO Pr article above:
"Despite the fact that the Escobal mine is not located in or impacting
any indigenous communities of Guatemala, the company understands
that MEM (the Guatemala gov't) held a consultation process that complied
with the requirements set forth in ILO Convention 169"
Assuming all the above is true, the case had no merit and should have
been summarily dismissed. Especially since the only one it was
going to impact on was THO.
Now you know why investors hate buying great mining companies
in banana republic nations, with banana republic tactics.
All in my humble opinion as to all the above.
Now you know why the THO mining operations in Guatemala are so
well armed and protected. Guatemala would have to stage a full
scale military operations to apprehend the mine, which they would never
create such a international incidence over, and risk all foreign investment
coming to the country. Then be treated as a pariah nation by the west
in return as Venezuela and Hugo Chavez’s government there is. The
gov’t has to try to do it under the cloak of legality, which is thinly veiled,
ie little validity! Activist will claim all sorts of past violations by the
west’s companies, but it is all hot air in legal terms to particular mines
now all over the world. As long as everything is being done to do the
right things now, however much activists disagree.
My opinion again.
Let the new contract negotiations between Guatemala and THO begin.
It will hurt THO's price in the short run, putting THO's mine on care and
maintenance conditions. But see their silver sales postponed to much
higher prices in the future when the new contract is concluded.
All in my opinion.