The market still seems to believe there will be no open pit or mining is still banned in the Imataca. The pps should be back at pre denial levels at the least.
One of the major modification in KRY's proposal that was "accepted" by Minamb was:
Open pit mining represents the only viable mining method
Does this not say open pit mining is now permited in the Imataca where LC is located if Minamb accepted this as one of the modifications? Am I missing something here.
Pre denial, If we knew Merly Garcia was in charge of the permitting and not Ortega where would the pps have been? Merly is now in charge and has approved the modifications. In the letter received by KRY their own lawyers said the Aug 22 letter supercedes the denial. So lets take that statement and think for a second. VZ themselves can't come out and say the denial is reversed...why, because if they do then that means the permit and THEY have to issue the permit themselves. So what happened is KRY's lawyers are stating the permit is coming but its Minambs job to issue it and we are not Minamb....all IMO. Remember the permit is very lengthy over a few hundred pages if I recall correctly and that takes time to get ready and go through all channels, lawyers...etc.
We just don't know when the permit will be issued.
