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Pan American Silver Corp. Message Board

  • warmcamp warmcamp Apr 27, 2013 9:14 AM Flag

    Comparatively good (by Arg. standards)

    Vale has been granted 4 years reprieve to extricate itself from huge mining (potash) project in Argentina. Next Argentinean elections are scheduled for 2015 and it leaves company with a chance to pursue the project in case of favorable election results (not too big chance). Meanwhile Vale can also try to find a buyer for the project.

    As of now Vale is on 2.2B hook making PAAS Navidad situation comparatively benign. Please note that Vale is a Brazilian company and Brazilian president personally lobbied Argentinean counterpart on company behalf. However, any attempts to reduce tax/royalty burden and move project forward didn’t bring any results. The only gain for Vale is that project is not confiscated outright.

12.72-0.03(-0.24%)Apr 22 4:00 PMEDT

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