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The type of deal that only big-swinging-richards pull off: FNV has just bought the precious metals stream from Glencore's Antapaccay using OPM.
"The court also indicated that ANLA (the National Environmental Agency) will not have sole exclusivity over permitting and maintaining environmental aspects of PINES projects."
"...the director of the permitting body Corantioquia, Alejandro González Valencia, told Colombia's biznews people El Colombiano that the permit was denied due to water reasons (too much of it from the mine that wasn't being managed) and enviro-control reasons. The report also said that according to the director of the body (translated), "...on September 11th 2015 the environmental impact permit modification was denied (by Corantioquia)."Got that? September 11th 2015. That was a Friday.Now compare that to the CNL.to news release dated Tuesday September 15th 2015 entitled "Continental Gold Elevates the Environmental Permit Application for the Buritica Project to the National Level" in which the only mention made of the previous permitting program was, "...Company has withdrawn its application for the modification of the EIA from Corantioquia, the autonomous regional environmental authority of the department of Antioquia".Got that? CNL tried to make out on the 15th of September, four days (and two full trading days) after Corantioquia had DENIED the permit, that they had withdrawn their application. Maybe, like me, you see a subtle difference between "withdrawn on 15th" and "denied on 11th"."
Question: How many times does one man have to lie to you in the face before you realize he's a liar?
Some life things to deal with. Just talk among yourselves til I get back...
Here I am, checking out the results of the NH primary and thinking that the above name doesn't sound so bad after all.
...has just been sent to subscribers, Tuesday lunchtime. Ka-ching time.
Props to Paul Harris of The Colombia Gold Letter for this scoop. Here's how his post starts:
Colombia's Constitutional Court endorsed the concept of projects of national interest (PINES) and the creation of a national system to handle them due to the high social and economic impact, but stipulated that local and regional authorities must be consulted during the permitting process and that the national environmental licensing agency (ANLA) cannot issue environmental permits, which is the competence of the local autonomous regional corporations (CARs), reported El Tiempo. The Court ruled that article 49 of the National Development Plan 2014-2018 (PND) violated the principle of territorial autonomy because it attributed to central authorities competencies that are exclusively those of territorial agencies. This means that continues here
And if you're long CNL and don't know what that means to your trade, I wish you the very best of fortune. And I also promise you, hand on heart, that Ari Sussman doesn't want you to read this.
UPDATE: The above went live about half an hour before the open. We're now an hour or so into the session and CNL.to is down 2% or so, which is all the proof you'll ever need that Canada doesn't have the first freakin' clue about Colombia political/community risk. If it did, CNL would be down by 50%, not two.