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zoros, my guess is that even if the RNS had valued the resource at £200bn and BHP had offered £10 per share, you wouldn't like it.
And by the way, I assume we'll have the technical boys popping-up telling us the tea leaves had predicted the delay and that they had all sold out yesterday.

It was also interesting to note that they made two references to the perceived reduction in political risk, as evidenced by the recent investments made by the majors (which is what I also pointed out)
This is important because it is a recognition that the local election results are not being brushed under the carpet, but must be seen in the context of the broader picture. Their inclusion was a deliberate attempt to calm any fears and i'm glad they did so.

They must have read my comment yesterday, which suggested an update was required! :)

FTJNY, thanks for posting.
Like you, in an attempt to understand what's going on, I have spent hours scouring the web reading endless articles in obscure publications; but what are the conclusions?
First of all, it would be a mistake for any investor to simply brush these concerns under the carpet. However, it's essential to get a view of the bigger picture. The local elections and the mining referendum in Giron are just that; local elections. We all know that the final decisions with regard to mining lie with the central government, and I would refer you to the announcement made by INV earlier this month on this topic. It must also be borne in mind that the government has staked the country's future on mining and the recent IMF loan was, to a large degree, granted due to promises made about revenues from mining in the coming years. The economic imperative therefore, is huge.
I know many of you will disagree, but my own investment decision here is based upon Cascabel. I regard everything else as a bonus and I'm not attributing much value to the other concessions...just yet. And, as far as I've been able to ascertain, I can find nothing which threatens the Cascabel development. It is not in a protected area and has not been subject to any civil disruptions. Local support appears to be strong. (if anyone can show anything to the contrary, please share it)
Ultimately, it is the perception of the mining majors that really matters. The evidence suggest they have weighed the risk favourably, but I suspect they will be very selective in terms of those projects they back and we are obviously one of them.
Equador isn't suddenly going to turn it's back on the mining industry; it can't afford to. But I think we will continue to see local activism which may spook some investors.
My conclusion is that we may encounter problems in some of our other concessions (even though they are not in protected areas), but that Cascabel looks to be solid and will form part of the overall economic strategy of Equador.

Which words?

I guess the point is, the results of the PEA and/or any further drilling results are entirely separate matters from government policy, which may warrant an RNS of its own.
In other words, I'd be surprised if this is what we're waiting for...but who knows?

OWN, if that is indeed the case, perhaps they should say so? Or would that be construed as a sign of weakness?

Indeed we will. But don't build up your hopes.

It will not be all debt. Equity will be issued.
Of course, if our friends Southern, or "the Chinese" offer to buy the business, that's a different matter.

by the way, until the money is in the bank I NEVER relax about owning shares. Complacency is disastrous.

BBG, that was my point, really. There will be a reason.
In this instance, I believe it will be for a positive reason; in many other cases, exactly the reverse is true. CEO's loathe having to impart bad news and rarely learn the lesson that it's always, without fail, best to get bad news out of the way asap. It's a very human instinct and is completely wrong.

we get to the end of the quarter, the more I believe something other than the 'expected' news is bubbling away.
I admit that I'm getting a little frustrated by the lack of news and am always suspicious when companies offer deadlines and then stretch them to their limits.

L2, you would be well advised to do some research into this company. If you did, you'd understand exactly what the relationship with Tesla is all about. And, as 3.14 pointed out, we already have one.

Barksy, it's always interesting to read how the various developments are being interpreted by the shareholders here.

Bannor, don't worry, the company will be working out how to present this as a profit. The method used last time was called "the Dianne Abbott" and it worked very well.

L2, I take it you were being ironic?

owan, so, the same as this country. A small and unrepresentative group, trying to dictate to the majority. Virtually every facet of our lives is now driven by gobby minorities.

This is an interesting and well-balanced article.
Of course, Cascabel is not mentioned as being somewhere with problems and, as far as I can tell, never has been.

Indeed, Jarv55. They sold solg recently, which looks distinctly weird, to say the least.

No one should make the mistake of assuming Capital has any inside information. They don't.