RE:Congo legislature cannot wait to do the old socialist thingI agree with much of what you say, but that's not the reason for the sell off. Most of the proposed changes to the mining law were already anticipated by early December. The 10% royalty on cobalt is the biggest surprise. But IVN is not into cobalt, so that has no bearing on the Company. Cancelled ten year Stability Pacts are the other unexpected and unwelcome development. However, the Company will still be highly successful by any financial analysis. Market reaction would have you believe this isn't the case. Share price is now falling because investors are expecting it to fall, and for no other reason. Buffalo stampeding over a cliff in unreasoning terror, act as a natural brake to share price appreciation.
You are right people are perhaps expecting too much from democratic elections. It's a completely separate issue from mining. As you note, California is a democratic pro-Western state. Yet that hasn't saved business from onerous taxes. Governments, both democratic and non-democratic, like to squeeze business.
Venture Trader saw this trap being set up weeks ago. He saw the hunters moving into position, preparing to stampede Buffalo. They cunningly guided their prey right over a cliff. And the terrified beasts are still running over the edge, plunging to their death onto sharp rocks far below. The hunters will be carving plenty of meat tonight, and removing much valuable fur. Venture Trader, I should have listened more carefully to your warnings.