Still holding my hypothesis about Walter Aduviri's election and sp, and in fact today selling seems to be related again with news about Walter Aduviri and more precisely with the meeting Dr. Solis is looking for:
https://radioondaazul.com/puno-electo-gobernador-regional-a-favor-de-la-explotacion-del-litio-en-puno-79344.html
"The elected Regional Governor of Puno, Walter Aduviri Calizaya, was in favor of the exploitation of lithium in the Puno region; However, he stressed that it is not yet feasible, since the current rules do not benefit the region and the country at all, "unfortunately no benefit brings us, natural resources are ours, but how much of this benefits us?" he asked himself.
He also confirmed that he will be respectful of the decisions of the population, after being asked about the claims of the Macusani Yellowcake S.A.C. Company, which intend to exploit the lithium of the Chacaconiza community of the Corani- Carabaya district.
He considered that the resources that Puno receives, for the concept of the mining canon, are significantly low".
https://diariocorreo.pe/edicion/puno/el-litio-de-puno-tiene-9974-de-pureza-segun-macusani-yellowcake-849638/
"In July, the Peruvian company Macusani Yellowcake, a subsidiary of Canada's Plateau Energy, reported that it has discovered resources in Puno equivalent to 2.5 million tons of high-grade lithium. "It is the largest lithium deposit in the world," said the CEO of the company Ulises Solis at the time.
Yesterday morning, the businessman and his team arrived at the capital of the Puno region, to hold a meeting with the regional governor, Juan Luque Mamani, to whom they made known the scope of this project, which, according to the perspectives could be starting the exploitation phase in 2021.
THE LITHIUM. The representative of the aforementioned company, said that at the moment there are no problems with the inhabitants of the area, this is the town of Chacaconisa, located in the district of Corani, province of Carabaya.
Sols says that, tomorrow, October 25, they will be holding a meeting, to inform about the different processes. "There is no collateral danger in this issue, it is lithium," he said.
While the exploration phase continues, it has been proposed to set up a Study Commission on Lithium Exploitation, to obtain all the details of the different phases and the permits that the company must obtain. (...)
MEETINGS Ulises Solis said that in the coming weeks he will be looking for a meeting with the elected regional governor, Walter Aduviri Calisaya. "It is true that the issue of large mining is not the responsibility of the regions, but we need to work with them," he said." https://www.pachamamaradio.org/noticia/empresa-que-explotara-litio-en-corani-busca-reunirse-con-aduviri/13007 "After meeting with Juan Luque Mamani, general manager of the company Macusani YellowCake, Ulises Solis Llapa, said they are looking for a meeting with the elected regional governor Walter Aduviri to discuss the exploitation of the Lithium deposit in Corani in 2021.
He argued that they intend to avoid problems in the later; therefore, they are looking to meet with the social actors of the region, and suggest that from the Regional Government of Puno an inspection commission can be formed.
"We believe that Puno deserves respect, that is why we propose that always the population of the place and the region will be first to be considered at work; therefore, we hope to have a meeting with Mr. Aduviri soon, "said Ulises Solis.
He noted that they are receiving the invitation of the different professional schools of the National University of the Altiplano, where they will be exhibiting about this site considered the largest in the world." It is remarkable the work that PLU management is doing to socialize the project with the regional government, universities and other stakeholders. In particular, I think it's good news they seek to meet directly with Aduviri and form this "Study Commission on Lithium Exploitation", which will help to de-risk the project.
I suspect that the negative trend in the price will continue until the day of the meeting, but if the result of that meeting is positive I think we could finally find a bottom for the sp.