It doesn’t make a lot of sense to me unless you put it down to fear over political factors in Nicaragua. The main fear is ‘delay’, although as we already know MC was called in for a few final (hopefully) questions AFTER the protests started. Thus as the moment it looks like they are irrelevant to the approvals process.
Quite frankly, whoever ends up running the place will still need economic development. So, as long as MC answers the questions I can still see the permits being issued by the end of June. If they don’t land by June 30th then I could see a few people start to lose faith. For the record I did think we would see something by the end of this month but it looks like my expectations at the time were far too early.
Still a buy although it’s starting to feel like an interminably long process. I bought into the Falklands Oil story (DES in 2003) so no one can accuse me of lacking patience, but there are limits. As one wag on the RKH board remarked recently. Words to the effect of ‘I bought-in dreaming of it buying me a sports car but now my dreams are more of a portable mobility scooter…’
We live in hope that we will actually make some money out of it before retirement.