Member Info for breaktwister

I've added this to my buy list, overreaction imo

This is actually huge as JPM talks their book, quite the opposite of GS who, if they issued such a statement, I would be very worried.

https://twitter.com/pcmperu/status/1483124288324575233?t=kC5RXzBe_yfGAMlL0Tlb9A&s=19

Much more tempered than a few weeks ago, I am sure she was told never to talk about closing down mines again.

They certainly dont make it easy for company owners to vote on these matters. What a farce. I dont have time to jump through hoops with brokers, do IG want a wet signature which means printing and trip to post office etc.

I hold shares in two separate brokers, what is the simpliest way for me to vote NO?

OnlyTrading

Can you post or PM me the new telegram group please?

kj, all of that is now in the hands of Newmont and Agnico; they have taken operational control which is a huge win for OMI shareholders, will reduce our costs and now have access to the bog boys labs etc. The downside is no real control over newsflow but if the market does not like that then great, a buying opportunity for those that believe in the project.

Highest inflation in 50 years and metals are down on the year and continue south. The sentiment is so poor this is a value investors dream.

Stan, I assume there will be a special dividend (planned in-species distribution) for all shareholders. We will find out soon enough.

Thought experiment: let's assume that Newmont/Agnico start drilling up monsters. They will get these results from their lab before OMI knows anything, what is to stop them trying to buy us out for a measly 50%, or even 100% from this price, knowing that OMIs 25% overall value of the project will be much higher? I assume OMI has the right to demand assay results and can then decide whether to accept or reject the offer?

Are you aware that they are drilling up monster veins at Inmac?

https://www.gob.pe/institucion/pcm/noticias/563320-declaracion-dialogo-entre-el-poder-ejecutivo-y-la-sociedad-nacional-de-mineria-petroleo-y-energia

Just my opinion mate, dyor as always. As per my earlier post, I do not know how much power she has as PM. Its not like in the UK where Boris is on top as Castillo as Pres is in charge of the Peru govt. Does Mirtha have the power to setup an executive committee outside of the existing Mining & Energy commitee to "ensure that the mines are closed asap"? I doubt it.

A little bit more than that Poker, she signed some document at a protest to say that the mines will be closed asap. All that does is embarrass her even more now she will be instructed to back-track. Her political career only started in 2020, she has been PM for less than two months. She could well end up being replaced given Castillo was forced to walk-back her outburst and confirm that Peru has actual mining regulations in place that will be followed.

I read last night via a Peru news article (unfortunately it was late and I cannot find the link now, maybe elcomercio ) that the PM had been summonsed by the Mining & Energy Committee to a meeting today at 2pm Lima time (7pm UK) to explain her comments about shutting down mines. This is a HUGE meeting for us and it wil be critical to understand the power dynamic here. I don't know enough about Peru politics to understand what power the PM has over this Commitee, can she disband the commitee or replace all the ministers? How much power does the head of the Commitee have - can he put the PM back in her box?

Not much but certainly isn't bad for our case. https://revistaenergia.pe/electricidad/minera-ares-del-grupo-hochschild-mining-recibe-certificado-de-celepsa-que-reconoce-el-uso-de-energia-renovable-en-sus-operaciones/

They cannot sacrifice HOC if they want the world to believe they remain open for mining business. Out of the 4 mines I expect Inmac at least to be extended, may the other 2 non-HOC mines are toast, I have to say I have no interest in that at all.

JLF, strange that a country that has 60% of exports from mining would install a PM against mining but here we are.

Poker, WB/IMF will not give loans to countries who do not play the game of international business. In fact, it is one of their key criterias. You should read "confessions of an economic hitman" by John Perkins.