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Fortuna Silver (FSM) (FVI.to) and SEMARNAT: You cannot make this stuff up

Mining companies and their news releases are a source of unlimited mystery and amusement. When you click through and read the entire NR from Fortuna Silver (FSM) (FVI.to), keep in mind The IKN First Law Of Mining NRs, which goes like this:

Considering that anything contained in a mining news release is presented in the best possible way for the company in question, any piece of information contained in a NR that comes across in any way negative means the real news and/or events behind it must be very, very bad indeed.”

Now enjoy FSM’s offering which starts in this way:

Vancouver, February 4, 2022- Fortuna Silver Mines Inc. (NYSE: FSM) (TSX: FVI) reports that on January 28, 2022 it received a notice (the “Notice”) from the Secretaría de Medio Ambiente y Recursos Naturales (“SEMARNAT”) which advised that SEMARNAT has made a typographical error in the extension to the term of the environmental impact authorization (“EIA”) for the San Jose Mine, located in Oaxaca, Mexico.

On December 17, 2021, SEMARNAT granted the Company a 12 year extension (the “EIA Extension”) to the EIA for the San Jose Mine (refer to Fortuna news release dated December 20, 2021) which expires in October 2033.  However, the Notice states that SEMARNAT has made a typographical error in the EIA Extension and that the correct term is two years.

The Company is of the view that the Notice was issued by the local office of SEMARNAT in error.

Whole thing here. Gotta love Mexico.

8 Comments

    Don’t shoot the messenger they say, but you will give me an ulcer soon with all this wtf info about the scamsters in the resource space. But then again, if it can prevent me from some losses it’s worth it 😁

    Reply

    Appreciate the reporting this morning. Thanks.

    Reply

    At least you cannot say that Fortuna was lying.

    Reply

    It sounds like, based on the wording, that it could be read as a worst-case scenario that there is NO current and valid EIA. While I doubt that’s the case, it’s possible to infer.

    It’s most likely that their EIA extension is for 2 years, however.

    Reply
    A Beaten Down Prospectors Cabin In The Woods The Deep Dark Woods of British Columbia 04/02/22 1:12 pm

    Todd says; “it’s nuttin … everybody to the county commissioner” …..

    https://youtu.be/l1yfICi9hss?t=62

    Reply

    That’s how SEMENRAT rolls.

    Reply

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