you must be stupid.........you ain't made a dime one this piece of shyt......these south american losers are horrible....just mullatos and mestizoes stealin the company blind before the corrupt goverments do........the whole continent
Perhaps investors are reassured after reading in El Mercurio that operations at SQM are continuing normally and in a press release yesterday August 4, SQM made this point: "SQM has fulfilled the Lease Agreement in good faith and in permanent communication and coordination with
CORFO. SQM continues to pay the rent payments to CORFO in a normal way and in accordance with the
Lease Agreement. CORFO committed itself to not impede the exercise of the Lease Agreement and such
infraction will generate responsibilities"
So, if CORFO has agreed not to impede operations or exercise of the lease and the "misunderstanding" about $9m represents only 4% of lease payments over the period in question is there any doubt that this all will unfold in favor of SQM in a court or arbitration with any unbiased adjudication?
I am down about $5,000 right now and sold some shares, but i am thinking that this is the bottom due to fear and panic now moving on to a rationale handling of the dispute. Hopefully.
Does anybody know what POT paid for their shares to acquire the third of the company they own and when they bought it? If they are right now trying to find a buyer to get out it would help to know if they paid more than current price. Of course, they wouldn't want to leave money on the table either if their inside information suggests a return to normal SQM price. I wonder what they are up to?
Finally a judge has challenged the biased prosecution. La Tercera has the article. Minor deal, but in the commentary section there is expression of resistance as to what is going on. Hopefully soon we should see awareness that stockholders are also victims of Ponce and not coparticipants.
The trouble is that our absconded money also paid those in the current administration and it will be difficult for them to prosecute themselves.
That is where Canada on behalf of its citizens and the Chilean pension managers should sue Ponce and associates for breach of fiduciary duty in the affairs of a public company controlled by them.
Pinochet son-in-law is prolly shorting SQM and long the super-voting shares. A nice way to get your hands on more shares that pay the dividend---at cheaper prices.
Going to take decades until people trust the govt enough for FDI. I find it strange that people in Chile are so out for revenge that they are willing to practically destroy segments of the economy even though there is absolutely no value generated or benefit even if they successfully get their revenge.
A formal investigation into SQM water usage at lithium and iodine mines started June 30th.
Also Chamber of Deputies today approved draft agreement ask President to instruct CORFO to review all existing lithium contracts. This involves Rockwood and SQM. As we know SQM have good chance of losing theirs outright.
At this rate SQM will go brankrupt.
Not good at all. When South American stocks drop like this, there are seldom catalysts to stop the drop. Not good at all for FDI in Chile. I suspect the demise of SQM precedes significant money / investment flow out of the country.
Sorry Mutley, but it does look like a witch hunt.
Which is exactly what Chile does not need at this juncture.
After all the years looking the other way all of the sudden all the SQM wrong doing comes to the surface on the eyes of the regulators?
Chile environment agency to investigate water extraction and environmental damage by SQM at their main iodine mine.
News today. 6000 tonne produced there, about 65% of their production. I think it's likely they will lose their water rights.
'The Superintendency of the Environment launched an investigation against Sociedad Quimica y Minera de Chile (SQM) after the Regional (or Core) Council of Tarapaca, interpose a complaint for possible breaches of the Environmental Qualification Resolution that would have incurred the Company plant "Pampa Hermosa".
The best hope for Chile and SQM, is that the judiciary do their job and prosecute the individuals who appear to be at fault.
Anything else will fall short. The trouble might be that the payouts may be so broad that there may not be clean hands left.
Prima facie, it was diversion of profits from the rightful owners, to the parties that Ponce et al thought could improve their position.
Second the taxes shortfall resulting from these irregular expenses.
If he did these two with impunity for apparently several years, it leads you to wonder what he did where he had even more control.
Why is he not the object of serious urgent prosecution?
I see the new CEO is now named as one that should be faces charges and various others listed, so if that happens surely he'll be booted out too?
For Chile to lose its export market for fruits & vegetables by turning its back on USA and its own corporations would spell total economic disaster for Chile. It simply is not going to happen.
For USA to lose machinery, cosmetics, personal hygiene products would also be a huge mistake and USA corporations like Proctor & Gamble, Colgate Palmolive, Caterpillar, John Deere, Whirlpool, and many others. Wall Street is NOT going to let that happen either direction and at either end of the supply chain.
Also, by investment i'm not necessarily talking about fruits and wines. I don't think those will be affected. I'm talking about big multi-billion dollar acquisitions, plant-manufacturing, resource partnerships, etc.