Biggest decision at moment for PTQ...
Who is coordinating the Green Wave invitation only party, and helicopters to the dome?
What Mr. Nicolas Riciarrdi, (at least you could spell is name right), told you, is well documented in the public record in the courts and at MICI as well as two other cabinet level departments. It is very complicated and very precise. The simple bottom line is that Panama calls all the shots and has all the power.
FQM is on a very tight schedule to meet certain milestones, and the natives are restless. Their first two proposals obviously did not pass muster, and they are now on a third re-write. Their concession can be removed in 24 hrs. at any time Panama sees fit. If they do not live up to their promises that are on file they will be gone.
Cobre-Panama and all of the mineral rights are owned by Panama not FQM. Read the Ley Petaquilla and ensuing filings from when FQM was allowed in, and you will learn what everyone else, from the car washers in front of the Cuban Embassy, to the Board Memebers of the Camera de Commercio next door, all know.
When you combine the politics, the canal disaster, Sacyr insolvency, the election run-up, the financial losses Panamanian elite are feeling from investments made in Cocle and other areas based on Inmet/FQM promises, nationalization of the whole mess is remotely possible, but possible. Canadian, US, German, or any other jurisdiction's laws do not hold any water in Panama.
Impact short term on share prices, I have no idea, and really know no one with a major investment here who really is concerned. Warrants expire next week. Now go on vacation children and leave the decisions to the adults. School is out!!!
If Panama decides it is not satisfied, expect the entire Cobre-Panama projects to be stopped and sorted out. This could take a couple of years, because of the election cycle next year. Ultimately the right people will do just fine no matter what happens and the mining sector will move forward.
