GREY:PLUUF - Post by User
Post by
metexonon Mar 20, 2019 7:25pm
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Post# 29514116
back to the point
back to the pointHi Guys! Being new into the post; hope to contribute.
Being based in the country and familiar with mining licenses and being an investor as well, the real point is that the current official status of the mentioned mining concession, is that it has been canceled, expired (declared "caduco") and sent to the public register according with an INGEMMET´s presidential resolution (and another 31 Plateau concessions too). See link below:
https://www.ingemmet.gob.pe/sidemcat?CodDM=010215005&TipoDoc=0
page 92.
This is what is public today. What we don´t know is the current status of the company´s efforts/allegations to revoke that situation. Hope it happens (which is not impossible) for the benefit of the country with a very good project moving forward, but it is a really difficult situation once a presidential ruling has been issued.
Under my consideration, this leaves the whole project under a very risky position, telling me that the company in general is not capable of keeping safe its main assets, leaving the validity fees payments of the mining concessions for the last minute in the calendar and, apparently according to INGEMMET, being late for that (What a Shame!).
For the non-benefit ot the last press release, this is not good standing!
Unfortunately for me, All of this made me to decide to sell my positions.
Good luck for the optimists!