Re: Elections in Peru
in response to
by
posted on
Apr 15, 2011 11:39AM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
" Ollanta Humala, .............. has pledged to renegotiate contracts with foreign mining companies if elected, ............. "
Now doesn't that give you a warm and fuzzy feeling. I have some cash invested in this country, and I'm getting a little 'twitchy', looking over my shoulder.
Contrary to HOGS opinion, I think Humala will get elected. He has learned a lot since losing by about 5% on his last try and is now steering a bit more to the right, which gives him a lot more credibility with the rural populace, and more acceptance by the urbanites.
Fortunately, their politicians are very aware that scaring away all the geese, laying these polymetallic eggs, is not good for votes, so any renegotiations will probably be done with velvet gloves holding a stacked deck. One thing you can be sure of, any renegotiation, will not be for the benefit of these already incredibly profitable mining corporations. Hopefully, it will be some sort of taxation on 'Super Profits' or even 'Super-Duper Profits', leaving the exploration companies to squander their own money in their own way.
So what's my point ?, Uncertainty. Makes investors 'Twitchy'
“We’re confident that democratic institutions will enable the country to ride out any candidate,” Garofalo said.
Not sure what that means. How about, "gimme $50 and you can ride my Brama Bull."
Have a great weekend y'all. Gotta go paint something.