IKN once again performs an act of charitable kindness to the Canadian equities analysis community, this time offering a glimmer of hope™ to Nicholas CampbellSoup over at the Can of Corn, currently bogged down with what’s looking more like a disaster buy call on Greystar Resources (GSL.to) back in November when it was trading two full dollars higher than now.
This is from IKN88 yesterday, Soupy. Enjoy.
Colombia’s new mining code may be declared inexecutableA development out of Colombia that sounds like it may delay mining development on one level but, strangely, may help one specific and polemic project move forward to construction.Last week Colombia’s national procurator (9) asked that the current mining law reform be declare inexecutable, because 1) due to the fact that Colombia is a signee of the International Work Organization’s Covenant 169 that guarantees indigenous populations the right to decide on the future of mining projects and that 2) the new mining code was not presented to said populations for their approval, it cannot be implemented. Apparently, at least. We shall see.Over the medium-term this may become a setback for Colombia’s mining industry as it tries to reform old and often difficult to work rules and regulations. The potential for bureaucratic bottlenecks is clear, but on the other hand if the current mining code is declared null and void it may allow Greystar (GSL.to) to move forward with its Angostura project, unfettered by the new environmental code that protects about 50% of the land on which it wants to develop its mine.The IKN Weekly is not calling GSL a buy at this point and the potential for unhindrance of rules that may help GSL is by no means a done deal, but it is a story we’ll be watching carefully in the near future for developments.