Condor Resources Inc V.CN

Peruvian elections

[Crashcomingsoon]

April 23 – Bloomberg (Maria Elena Vizcaino and Ezra Fieser): “Peru’s currency hit a record low as investors dumped everything from stocks to sovereign bonds after a little-known leftist candidate gained a clear lead in presidential polls, rattling investor confidence… Pedro Castillo, a former school teacher whose party has praised Latin American leftists such as Hugo Chavez, came from no-where to lead the first-round election on April 11. Now, he is ahead in the polls for the runoff and investors are spooked.”

The Peruvian currency (sol) sank 4.1% this week, closing Friday at an all-time low versus the dollar. Peru’s 10-year local currency yields surged 54 bps this week to 5.41%, up from 3.50% to begin 2021 - to the high since the March 2020 yield spike. Peru sovereign CDS jumped 17 bps to an 11-month high 93 bps. Outside of last year’s Covid spike, Peru CDS traded this week near four-year highs. Peru’s major equities indices dropped more than 10% this week. Colombia CDS rose eight bps, and Uruguay gained seven bps.

[Crashcomingsoon]

I fear Condor has fiddled too long and if the leftist candidate wins it will become difficult for mining in Peru if the goernment wants to take a large percentage of the profits.  Ten plus years of fiddling.

[loonietunes]

No opposition from the press under Castillo-From Mark @IKN yesterday. 04 / 27 / 21 0 COMMENTS SIP on Peru’s freedom of speech The “Sociedad Interamericana de Prensa” (SIP), the big, influential, independent (yes, it is) media rights watchdog in LatAm, published its first report on the situation in Peru yesterday and, under the sub-header explaining that the last six months in Peru

[DarkGreen]

It's no different from any where else in the world .

[Brianw21]

This is a very common issue in South America.  My personal belief is whatever government comes into power will need to stimulate investment in Peru.  It has managed the 'illegal miners' issue and worked to strengthen the integrity of the mining system.  I am personally not too worried becasue the incoming President needs to do the following:  - transition all aspects of