GREY:PLUUF - Post by User
Comment by
rockmoneyon Jul 31, 2019 2:28pm
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Post# 29980653
RE:I am optimistic
RE:I am optimisticThe point is that these incompetent managers walked in at the deadline. That is inexcusable. The deadline each year is June 30 for payment of concession fees to INGEMMET. These should have been paid weeks earlier to be safe.
This was entirely avoidable if they had a good land manager or lawyer managing the administration of these concessions. They clearly did not. The managers in Lima should all be fired with cause.
Peru has excellent transparent mining regulations and rules. Yes there are deadlines. That's what rules are based on. PLU missed paying by the deadline and hence they lost concessions for failure to make timely payments.
It's not third world thinking at all. If there is any blame, its on PLU management.