Bluestone Resources Inc V.BSR

Guatemala’s constitutional court issued a ruling nullifying

[Pete1986]

Good news. And also good to see that laws need to be respected. Very good day for all people from Guatemala. 

https://www.bnamericas.com/en/news/guatemala-court-nullifies-mining-referendum

[Pete1986]

And here is another good article:  https://www.prensalibre.com/economia/minera-en-asuncion-mita-cc-suspende-reglamento-y-deja-sin-efecto-consulta-celebrada-por-municipalidad-en-jutiapa/ The decision of the CC was published this September 26 in the Diario de Centro Amrica, and a hearing is granted for fifteen common days to the Municipal Council of Asuncin Mita, to the Specific

[Angelique01]

While it is unclear how many votes in the poll were from residents of Asuncin Mita town, one analyst, who asked to remain anonymous, told BNamericas previously that the “damage has been done” from the referendum, and that Bluestone will need to keep working to address community challenges at Cerro Blanco, which will be an ongoing problem.

[Pete1986]

Sure, the anti mining groups won't just go away. However, first of all you have to understand that those groups are a very small part of the local people. The majority of those are supporting the project and are in general pro mining, since they see the tremendous benefits in terms of economics but also in terms of developing the country in general. There is one thing those activists are

[Angelique01]

Based on this latest consultation (vote) it certainly appears that opposition is more than just a small part of the local population especailly when you have the church and local mayor involved. As far as the government goes yes the current one is pro mining.  However elections happen next year and who knows what the result will be. The existing government could very well be replaced with an

[Pete1986]

Not sure if you got a good overview whats going on there. However, as I said, the pro mining community is much bigger than the anti mining.  Taking the "referendum", which is not at all representive, only 8k from more than 30k voted for no. Only 9k participated, again, 30k were qualified to participate. And of course they got almost only no votes since this was not at all a

[Angelique01]

All Guatemalan governments are pro mining.  Really?  Why are operations at Escobal still suspended?  How many operating  mines are there in Guatemala currently?  There is good reason why this company is valued at $45M USD.

[Pete1986]

Right, but as you can read in the statement from Governement, they now wanna make sure that those things won't happen anymore. So they are aware that the past issues had huge negativ impact for the entire country. So they had their lessons learned and now follow a pro mining agenda. Im not worried about the governemtn, they are more than supportive.  The major risk is gold price falling

[Pete1986]

Don't get me wrong, the share price performance was a disaster in the past weeks. But due to almost no trading volume, the decline was driven only by retails. Institutional investors all keep being very supportive and don't sell. But yes, we have seen a 80% share price crash and only the Lundin Family lost 70 mio. 

[Angelique01]

And we haven't even hit tax loss selling season yet.  How do you know that the insitutional investors aren't selling?

[Pete1986]

I already did some tax loss selling, so I would not say that the season did not yet started.  And in terms of the instutitional investors, first of all you can check current updated holdings and according to them their is no change. Secondly, and more important, there is almost no volume. Selling many millions of shares are not possible at such a low volume or without any volume. 

[Angelique01]

I am sure that tax loss selling has started for some myself included but we all know that tax loss selling occurs predominately in November and December.  Given that its not even the end of the month not sure how you could check current updated holdings for most institutional investors.  Sounds like a load of BS.   As for volume while not in the millions it certainly hasn't

[Pete1986]

I assume many investors used tax loss mechanism already, so depending on how the market is performing we will see more or less further tax loss selling.  The volume was still not significant. Since end of May, there were only 7,4 mio shares traded, so average volume is about 86k shares. That's almost nothing. And from talking to different people and attending many investor conferences, I