When you look at B2Gold, that is exposed to Nicaragua, they are up 5% on the week so this has certainly not impacted into the other main players in Nicaragua who are up and processing gold, although they have a spread of mines elsewhere.
Sadly for Mark Child, who in my view has blown the last few years wasting time on submitting permit plans that were not going to fly, and only recently submitted one that looks to tick all the right boxes he now finds himself caught up in potential permit delay.
i was not expecting permits to be released before June but the question is of course how the current situation will potentially impact that or not.
Certainly for the government to find the funds to keep the pension reforms as they are they are going to need to plug the gap so you should think the government might look through the order book and try and bring forward some potential tax raising projects as they are going to need it.
Certainly the people in Nicaragua are also going to want to raise income so in some way the government and people of Nicaragua will probably agree that neither of them want to pay for the pensions themselves so looking to foreign inward investment and projects to bring in some cash should come to the fore.
The $120m injection needed to get this processing plant up and then the 10s of millions in taxes they would get when Mark gets his 100k baseline gold operation moving is most definitely one of the clearest ways Nicaragua can move forward. Therefore i think projects of this kind will get more focus so Ortega can go to his people and show how he can deliver and that the people do not need to pay any more.
However the next 2-3 weeks of wrangling and reconciliation will decide how quickly that might come but it looks the landscape of the uprising is also looking at a peaceful exit as there has been little real violence over the last week.
Certainly the price of Condor is at very low levels, almost 20p of the current price is the value of the built up tax losses but sitting on billions of gold is not quite the same as having a permit to dig it up. while i think this stock will be volatile i am still inclined to think come end of June this could have been a very good time to have topped up.