The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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So has Eduardo let it slip that the permits have been received? His words are there for all to see "the MEIA has been secured".
Meaning of MEIA (extract from Seeking Alpha's pretty negative assessment of hoc)
"As for the 2023 outlook, there's not much to write home about, and any positive developments have been largely overshadowed by the delay in receiving Inmaculada's Modified Environment Impact Assessment [MEIA].
In the statement Eduardo Hochschild states "Immaculada MEIA" has been secured. What is MEIA?
Well good news today, Bustamante who has presided over the shareholder destruction and Snap wasted investment is off, I wonder if he was pushed, I hope not because of his permit negotiating skills. However they still say the expect the permit decision within a month…
Yesterday, Biden ordered the deployment of American military forces to natural resource rich Peru, about which is known: “Peru is currently under the control of an unelected government that is heavily supported by Washington but overwhelmingly rejected by the Peruvian people”—because the socialist Biden Regime overthrew the democratically government of Peru to steal its natural resources, Mexican President Andrés Manuel Lopéz Obrador refused to acknowledge its puppet leader, calling Peru’s fake president installed by Washington “the great usurper”—and in response to Socialist Leader Biden deploying American troops to Peru, it saw President Obrador angrily declaring: “Sending soldiers to Peru merely maintains an interventionist policy that does not help at all in building fraternal bonds among the peoples of the American continent”.
As expected, this report notes, American-installed puppet Peruvian President Dina Boluarte blasted Mexican President Obrador, calling him: “Very ignorant given the intelligence of the Mexican people”—in quick response, President Obrador proclaimed: “So long as there isn't democratic normalcy in Peru, we don't want economic or trade relations with them”—all of which is why Mexico is breaking away from the socialist Western colonial powers as it prepares to join the BRICS Alliance of nations lead by Brazil, Russia, Iran, China and South Africa.
Like exactly happened after the socialist Obama-Biden Regime overthrew the democratically elected Ukrainian government to install a puppet leader in 2014, this report details, human rights organizations are warning of the crimes against humanity committed by the American-installed puppet government in Peru, and this past week it saw Amnesty International gravely reporting: “Using lethal firearms against protesters shows a blatant disregard for human life...Despite the government’s efforts to paint them as terrorists or criminals, those killed were demonstrators, observers and bystanders...Almost all of them were from poor, Indigenous and campesino backgrounds, suggesting a racial and socioeconomic bias in the use of lethal force...Far from being isolated incidents due to rogue officers acting of their own accord, the number of deaths on multiple dates and in different locations suggests a deliberate and coordinated state response...The Peruvian authorities must investigate the possibility that officials ordered or at least tolerated these killings, no matter how high up the chain of command it takes them”.
Breaktwister have you seen how much silver has dropped? And gold ? That's why the PM miners have dropped.
Tracking silver atm.
15% down in 3 days on "no news". FFS.
No news yet. It's out ,we just have not been notified.
Yesterday candle shadow broke below the trendline from Feb23. The trendline is valid because there are 4 points of contact with separate price lows, since Feb23 . There has been no break of trendline closing price, so the shadow break can be viewed as a rejection of lower, sp. There is a longer term trendline from October 22, which is currently about sp, of 70.
It depends which one of the 3 outcomes it will be. From what I'm reading nothing has changed since the last update, i.e. 75% chance that MEIA will be approved and will include new mining areas. ~20% chance that MEIA is turned down but HOC may be able to correct something by the end of the year and 5% that MEIA is rejected with major issues and then Inmaculada will be placed on long term maintenance (at least up to 2026). The odds are heavily in favour of the permit, all imv.
Break twister the board has been saying for a long time that the permit result is unlikely to be binary ie yay or nay but in some way limited. If this indeed turns out to be the case the current price may to some extent take account of it which isn’t to say it won’t plummet on the news but may then bounce back?
Agree with barhut, too big a drop for a "no news" day. If it is bad news on permit then we are going much lower, maybe it is some other minor bad news has leaked?
Yes, quite a notable sudden SP fall today.
Hummingbird offers a lot better potential, all in my opinion check it out less risky
News leaked. Inside trading. Guess we will find out.
Gold and silver shares are underperforming. No upside in many of them. Fres,Cey, poly, hoc, shg and so on.
Just over 5 weeks in the quarter. Glad only 1% of my portfolio is on this donkey.
Significant bounce of the 50 day moving average yesterday.
Back on the buy side and hold.
Was HOC the only miner to finish in the green yesterday after silver’s mauling? This share is truly something special…
The sp, has retreated from 85, which coincides with the high two peaks, back. There is a sharp reaction on the earlier down trend, which bottomed at 80, so the sp, could bounce between 80-85. However on the long term view, a three year down trendline has been broken, on the upside, confirming a solid overall bullish trend.
The relative strength indicator has broken above the crucial 50 level on both the daily and weekly charts , indicating uptrend status on both short and medium timescale. However the Bollinger bands are not separating, indicating no fast sp, movement. Until Bollinger bands show some vigour, most recent top at 95, would be current target.
Update today ..... Q1 2023 Production Report
https://www.lse.co.uk/rns/HOC/q1-2023-production-report-7985v0xdge9ztre.html
Share price up to 84.55p intraday high after the start, and around the 84p the shorts entered the jail without the keys and managed to bring it down to 79.40p but the normal market finally resume to the same trend of the last few days is now 83.85 v 84.20p +2.30p
Gold was rising late on the day $2036 +20
Silver also but not so much to $25.64
Re - Life!
Is not easy with the Shorts around but...
.... the trend is NOT your friend any longer
Maybe because I bought it, the support was around and the Indicators are just right to get going yet.
so BURN those Shorts, that there are a few over here.
and " slater " to the "slaughterhouse" it rhymes alright