Remember this post back on August 22nd as we laughed our fruitiest laugh about the BS pump job being run on Belo Sun (BSX.to) by Porter Scamsberry and John Doody? The post that explained how much trouble BSX was in on its permitting track due to the way they decided to pretend land truly owned by Brazil’s agrarian reform bureau, INCRA, was theirs. To jog memories, it includes this:
“…let us be crystal clear on this, the INCRA overlap on the Volta Grande
Project footprint does not cover “some of the planned infrastructure”,
it covers MOST of the infrastructure including pit, tailings facility
and mill so fair warning required here, if you are a BSX shareholder and
read this, then you do not get in contact with the company and have
them explain exactly how much of the important areas of their mining
concession and sat on INCRA land, you only have yourself to blame
afterwards”
Cut to today, as we just got this from BSX and it includes this as a stipulation for the granting of the construction licence:
“update SEMAS on the negotiations with INCRA (Instituto Nacional de
Colonização e Reforma Agrária /National Institute of Colonization and
Agrarian Reform) involving the overlap of a portion of INCRA urban
development project area within the Volta Grande Project.”
And that’s not even the enviro licence (the “LP”). This is the LI construction licence and the LP is a whole different and far more complicated thing. Meanwhile, a check on the recent share price action shows that John Doody has managed to ruin Christmas for another section of North America.
