I said before I don't expect Ortega to change her position. This will have to go higher. It looks more like an attempt to make her previous statements more "reasonable" in that she is saying they will allow some open pit mining, just not in the imataka forest.

The market isn't reacting that much so it looks like this was largely expected. We are still below levels where we would be even if her comments held and we had to go the legal route.