Member Info for breaktwister

The Reuters article makes it clear the govt has softened their position so why are we down 8% today? The publicity from the huge morning drop yesterday has put significant pressure on the govt, they must resolve this in favor of HOC as they simply cannot afford to fall out with the mining sector. A bargain.

Might take some time to hammer out a deal. No need for RNS just for a meeting, it was mentioned in the investors call yesterday.

Could be news tomorrow https://twitter.com/adriantazar/status/1462948932242259974?t=-zyiQ1UHkh707RSOK9kf0g&s=09

Yes to work, No to unemployment. https://twitter.com/silvana_canales/status/1462910763824304128?t=K9mUkkC4yLXfi8yQ09EU6A&s=19. Peru PM is finding out there are always two sides and judging by her silent twitter today somebody has told her to shut up and let the grownups deal with it.

inbuilt translate function makes it easy to keep on track with some of the sentiment. For example, this Peruivan account with 3.3m followers is highly critical of the govt action: https://twitter.com/rmapalacios/status/1462766075205103626?s=20.

The PM account @mirtyvas is silent today after posting a lot over the weekend cheering the mine closures.

price is moving up quick, must be news, maybe a softening from the PM?

Poker, the point is that there are laws, processes and departments in place to consider such matters. Here we have the PM signing some kind of "closure promise" document with protesters without going through any of those processes. It is extremely business unfriendly bordering on "nutcase".

Poker, if that were the case the mining regulator would step in, not the PM signing a "closure promise" with some protesters. HOC has made numberous statements previously about the high environmental standards they are held to and pass. I find it hard to believe that water has suddenly become an issue for locals.

That there are laws and processes in place for dealing with mine extensions and that HOC is supported by the regulator. There is a meeting planned for Wednesday with many stakeholders, not sure if the PM will be brave enough to attend but I am sure she will send a delegate.

That is an extremely brave trade Happy, congrats.

Expect to see a lot of pushback from Mining regulator and other business/economic groups. Ignacio stated on the call that the regulators support HOC. I have to say that it seems very odd that the PM would go into a local community and sign some agreement with them apparantly taking everyone by surprise. On this basic I would agree with HOC that it was out of process and potentially illegal, the Mining regulator makes the decision about extensions, not the PM.

I don't agree with the assumption that they must have taken time to come to this decision. It seems to be off the cuff and not carried out through the correct nor formal channels. It seems the PM case is that "the mine is scheduled to close" but this is not the case, a mine closure plan is submitted for all applications and the date is always dynamic. This decision will hurt Peru severely. If your assumption is correct the govt would have been working with the mining regulators which has not happened.

What else does the Comunicado say? I would rather not type it all out into Google translate, but it seems to suggest that Immac has been "progressively closing" since 2017 with closure due in 2022!!! Load of bs. Unfortunately it seems we are now dealing with nutters.

I hope so Poker, because if the market prices this an an actual possibility we go down 50% or more which would be very painful for my portfolio.

Is there any way we are not screwed here? Yes, there is a chance that this is simply hardball from the new govt to agree better terms/taxation etc, but the stock will be hammered given the risk that the govt will actually follow through. Loss of jobs including secondary effects to the area must be horrendous but it seems globally govts no longer consider any economic impact of their decisions. Do they think they can print fiat and hand it out in unemployment/stimmys and everything will be fine?

Does anyone know if there were any protests at Immaculada itself? Reports I read recently only talked about a copper mine and not us. I wonder how many people were protesting verses the thousands that risk losing their livlihood.

Surprised to hear him say they will continue to invest. Does he know something that is not being reported? We need more detail, I expect an RNS first thing.

Thanks Ken, very clear response., much appreciated.

I am an exasperated long-term holder, knob.

MM will want to scoop up stock before the next wave of buying on news of Newmont/Agnico drill plans. Could see this pushed down to 10p. Surely OMI have the right to request details of operational plans so they can inform the market?

Can anyone explain what our options are with these, will all HOC shareholders be given some or is it simply an option to buy? If the former, what is likely to happen if our broker does not allow trading in TSX shares?