Post by
metexon on Mar 20, 2019 7:35pm
back to the point
Hi Guys! 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”) according with an INGEMMET´s presidential resolution. 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 (which is not impossible). Hope it happens 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 payments of the mining concessions for the last minute in the calendar (What a Shame!); And for the non-benefit of the last press release of the company, this is not good standing!
All of this made me unfortunately to decide to sell my positions.
Good luck for the optimists!