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Sotolo, if there's no previous position stated then they bought. Probably just crossed 3% threshold.
This won’t affect hoc. Although sad only 165 cases and they had a similar scare in 2019 (pre Covid). However, today’s rising gold price is nice, especially if we get a permit to mine and sell the stuff
Vax Injuries Cause Peru to Declare a State of Emergency
https://www.paulcraigroberts.org/2023/07/12/vax-injuries-cause-peru-to-declare-a-state-of-emergency/
Noel can’t work out did they buy or sell
But the reward should be good too! If fair terms are agreed this is 150 anyday, maybe you'll be able to jump in along with all the IIs, as most stocks have been on the decline... or maybe it'll re-rate. We can only speculate whether it'll drop to 40 or not, I still see it as 75:25 bet, the odds are heavily in favour of the shareholders.
It's too much of a risk for me Stanley, I see this going sub 40 if inmaculada closes... Sitting out and waiting for confirmation one way or another.
Https://www.lse.co.uk/rns/HOC/holding-in-company-vfqsjctmyd484ef.html
That it's coming anytime soon. :) I've read in some Peru mining magazine that temporary extensions are generally possible (before a mine is eventually shut). Maybe, that's not ideal but better than an abrupt closure. I still think chances are good that Inmaculada keeps running in Q3, I see it as 75:25 bet.
No imanculada update can only mean one thing.
Thanks so much Dave, Hochschild management is either very unlucky….or……. It doesn’t bode well for Inmaculada permit if they can fail so easily with Aclara. I wonder if Bustamente was pushed by the family? They must be pretty worried despite having sold such a large chunk at near treble todays price, seeing what was coming….
Https://www.aclara-re.com/news
Basically had their application rejected due to some 'rare' trees
Anyone know why Aclara has fallen from 56 to 36 in the last week, Hoc still retains a sizeable chunk and we are left with shares worth less than had to pay taxman
They only need to give workforce notice of when they will stop being paid. The company have made it quite clear there is no legal cover for operations to continue and they could be told to stop anytime now if not repermitted
They would need to give the workforce some kind of notice if Inmaculada were to close. Some kind of legal cover must have been given for operations to continue. The mine was within the requirements before and has not broken any regs that we know of. If the government lose the income they need to think how it gets replaced in the economy overall. Otherwise they are following the bad examples set in the UK.
Inmacukada closure will be during half 2 so that it hasn’t yet doesn’t mean one thing or another. Pallancta is being done by Hochschild as now losing us $10 for every ounce mined!!!
...that since they have not announced the mine closure for Inmaculada and Pallancata, that the permit should be forthcoming.
No rns yet but presumably one this morning as at end of previous quarters, for instance this from 6Dec 30 last year: “ Hochschild Mining PLC ("Hochschild" or the "Company") (LSE: HOC) (OTCQX: HCHDF) confirms that the permitting process for Inmaculada's Modified Environment Assessment remains ongoing and that the Company's current expectation is a decision by the Peruvian government in the first quarter of 2023.” Hopefully the same and not worse.
Difference being, mining activity stops in the meantime?
Presumably we should get an rns this morning as end previous quarters like this from 6 months ago today: “Hochschild Mining PLC ("Hochschild" or the "Company") (LSE: HOC) (OTCQX: HCHDF) confirms that the permitting process for Inmaculada's Modified Environment Assessment remains ongoing and that the Company's current expectation is a decision by the Peruvian government in the first quarter of 2023.” Apart from change first to third, unless worse
Didn't need another reason to hate maoists haha. Hopefully any issues can be sorted with some local job postings and the mine permit gets extended, concerning how long this has been going on. No wonder their keen to expand portfolio outside of peru
Great opposition from the locals, esp as the area had a lot of Maoist revolutionaries
The average income in the area is i think under 5k usd, I just seems really hard to believe any environmental impact is significant enough warrent closing the mine.
I'm a novice on the subject, am i right in thinking the issue isnt use of fresh water but more any run off reaching nearby (small) rivers.
Also Sotolo do you believe the opposition to the mine is coming from Lima or from the locals? Thanks
It will be quite negative as investing a v large amount in Maria Rosa to make up for some of the lost oz in Peru
Sotolo, what report are you reading? Have you included all metals in your figures? Ayacucho has 167 mines out of which 35 are producing ore. If they close all mines in that region then there won't be any jobs. Don't get me wrong, preserving the environment is very important but they have to use water to mine. There's no other way about it AFAIK. Why has Inmaculada suddenly become so damaging to environment?
Any thoughts on net cash position when HOC reports 1H 23 earnings in August? Strong commodity prices year to date?