Comment by MacBookon May 29, 2024 9:35pm
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Post# 36063529
RE:What the IFC (World Bank Group) once stated !
RE:What the IFC (World Bank Group) once stated !good point Sailor.
The paramo was identified 50 years ago. IFC dd not think paramo was an issue.
The gov't tried to politically bring it down based on "elevation" and got slapped by the courts.
The 25000:1 survey ordered by the courts have still not been completed to date.
The legal definition of the paramo that green lighted IFC to invest back then still exits today !!
The market valuation loss to EOM has to account for a premium to account for the market value of a resource that is much larger than the 3.5M oz that was left by the time the ICSID was launched in 2016. The WB/IFC knew that when they put a the $$ to invest !!