Did you guys read this from CRDY (AKA MJK) on SH
"1 h 0 min ago At noon today, Wednesday,September 28, the members of the Panamanian Party, Jose Maria "Junior"Lay Milanes Luis Herrera and enrolled in the ruling party DemocraticChange (CD). It was not "hype or fanfare "but did not call the press and without much noise........Thus, the CD is a caucus of 35 deputies and Panamemismo is reduced to 18. CDSeries 35, 19 adding to MOLIRENA Panameñista Jorge Alberto Rosas, 16PRD and Irene Gallegos, the only member of the Popular Party (PP)."
This is very important for New Mining Code and PDI contracts for the next four years!! The National Assembly is a one chamber legislative branch where the absolute majority rules. There are just 70 Diputados. This change of party removes two from the Panamistas of Varela and gives Martinelli's and Fifer's Cambio Democatico, (CD), slam dunk de facto control of the NA. Nothing can be done without concurrence of someone from CD now that they have 35 votes within the caucus. You can bet the bank that at least one more Diputado will change and join CD within the next thirty days. Then that will cement total control of the Legislature and all contracts, laws, and agendas. PRD the opposition party in the last election that had move strongly to the left is now in 4th place and has no effective power.
With the appointment next month of three more judges to the Supreme Court, raising the total from nine to twelve, Martinelli will have personally appointed seven of the sitting judges and has another one who is his supporter in any case. That gives him and 8 to 4 conservative majority on the court, seven of which are his personal appointments.
Any political interference with Petaquilla, if there ever was any sort of a serious threat which I doubt, is definitely off the table. On the contrary whatever Inmet or Petaquilla needs will be forthcoming along with a lot of infrastructure contracts for PDI directly from the government. Remember the five year plan is to grow our part of the country before anything else.
Love it when a plan comes together...now the founders of our new Cambio Democratico Party that includes Richard Fifer and President Martinelli have total control of the all three branches of government.
Don't forget that Global Bank where Martinelli is Director is the prime lender to PDI!
Affect our share price short term?? Probably not, since the retail market has no clue about Panama and is completely ignorant about the long term significance of current events. Just remember you heard it here first and you have the opportunity to inquire for yourself and make a prudent judgment.
Crdy
