IKN

More matter with less art

Candente Copper’s (DNT.to) investor relations department is having an interesting week at the office, methinks

This just out from the company, the second NR in as many days about the Cañariaco vote that went 95% against Candente (DNT.to) on Sunday. The strange bit is that DNT is trying to tell us that only 650 voted, when the real number was three times that amount, but the interesting bit is this at the end…
“The Company”s Peruvian counsel has advised that this meeting should be considered an opinion of some…”
…because all of a sudden DNT is “well, they may have a point” which is 180° away from yesterday’s poppycock spin. Tell you what, the worst thing about this is that the whole of the investment community in Canada has to stoop to getting its information from a pissant blog like IKN rather than a bit of honesty from IR depts as yesterday’s post, few lines though it was, got much closer to reality than anything the company wanted to admit to its own shareholders.

PS: Reader “M” mails in with this. His opinion rather than mine but very interesting and a good example. Particular agreement with paragraph two.

This reminds me of the controversy a few years ago in western Ghana, when and Australian company (Adamus) proposed to move the village of Anwia in order to build a new mine. Their local disclosure was incomplete, the people protested, police were called, there was a clash, and one or two people were injured (police, IIRC). Dr. Google provides this article:

Many mining companies view the law as a club to be wielded on the local populations–“the Federal Gov’t has given us permission to proceed so you have to let us.”

About two years later we met the fellow appointed by Adamus to clean up the mess. He was actually a very nice fellow with an understanding of local sensitivities. He was able to patch up things enough that Adamus was able to sell the properties to Endeavour (these are now operating mines).

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