Word from Colombia is that a few days ago Continental Gold (CNL.to) met with the official environmental body ANLA and was given a list of around 50 comments on things that the enviro people want further information and/or details on in their mine plan. This step, known as “observaciones”, is a standard part of the permitting track and as long as there aren’t any massive red flag items in the list (which was given to CNL orally last week, they receive the official written list in a few days’ time) it’s good news and shows things are progressing well. In fact it’s almost impossible to imagine any enviro body not making a list of observaciones for a project (not just ANLA and not just Colombia), they need to justify their jobs and show they aren’t giving mining companies a free pass.
This fits in with the company’s claim that they’ll receive the key EIA permit in 4q16 or 1q17. CNL has also made it known locally that there’s nothing on the list of 50 observaciones that looks particularly problematic.
And this is why I’ve been long this stock since May. They’re going to get the permit and the stock will re-rate on the news.