The only additional permit necessary may be an environmental permit.In contrast, exploration permits are granted to individuals or companies for areas in which they do NOT, nor anybody else, hold any mining rights.Article 164 states exploration permits are given for vacant, or free areas, where no other mining rights are in effect:Regarding the issue of why New Pacific felt the need to apply for exploration permits for the Silver Sand mining areas where it says it has had full, legal rights to since acquisition in 2017, our industry experts said:“As far as requesting authorization for exploration – they would not need an exploration permit but they may have been referring to the environmental license which they would need. [The location of the infill drill holes (yellow dots on Figure 2) do a good job of showing the best zones within the Silver Sand deposit and indicate that the footprint is relatively small.
That view is shared by our former senior AJAM legal source:“…when the Mines minister considered the appeal, they ruled against the AJAM’s first appeal verdict but they left the original revocation of (mining) areas in place.”“Maybe (prior owner) Jungie thought the ministry had ruled in their favor and so they carried on and look where we are now…Maybe the Mines Ministry did not fully understand the norms.
I don’t know who will be paying that amount because the poor community members can’t afford that. Evidence also shows that Silvercorp passed results of the Chinese police investigation to the BCSC.”One analyst, Kun Huang, was thrown in a crowded Chinese prison cell without charges and interrogated for a month by local police. I think it would be more practical to wait for a new government and new legislation. We think the odds are high that the Bolivian government and parliament could revoke the company’s Silver Sand concessions, and scrap the production contract for the expanded 57kmWe emailed New Pacific and asked for more clarification on several issues, including:We have not received replies to these questions as of this writing. He and his brother were experienced regional political operatives in their hometown of Potosi and between 2010 and his appointment to the mining portfolio, he was in charge of mass, grassroots political organizing under direct control of the President’s office.As a socialist government and part of the Latin American leftist alliance with Venezuela, Cuba, Ecuador and Nicaragua, Evo Morales’ administration gave the impression that it was hostile to doing business with foreign multinationals.
I’m surprised the previous owners had not done that. Furthermore, on its flagship Silver Sand property, Additionally, while New Pacific received approval from COMIBOL for a large, new mining deal in early 2019 it never received legislative approval. Log in to see them here or sign up to get started.Create a list of the investments you want to track.Visit a quote page and your recently viewed tickers will be displayed here.Pan American Silver Investment Overview And Growth ProspectsSilvercorp Metals: FY 2020 Remained Flat With Last Year, But FY 2021 Outlook Looks Promising
This statement was also corroborated by local media They pointed out that Navarro’s appointment to the position of Minister of Mining was political, as he “does not have the technical or moral training for such a sensitive position.”Prior to his appointment as Minister of Mining in 2014, Navarro did not have experience in the sector.
The firm’s portfolio consists of Silver Sand Project, Silverstrike, Tagish Lake Gold Property, and RZY Project. ‘I have a strong suspicion it was someone from [Silvercorp].’”“In the summer of 2013, Huang was charged with ‘criminal defamation’ for criticizing a Chinese company.
I would be very surprised if they’ve paid more than $40 million dollars for something that was not 100 percent assured.”“They could not have given out an exploration permit if Alcira already had (legal) title to those (Silver Sand) areas. According to the technical consultant we worked with, that is in the ballpark of advanced silver developers and producers, not early stage explorers.A more appropriate comparable for New Pacific is likely Bear Creek Mining (TSX: BCM), which currently has a market capitalization of US$145 million. I don’t know too much about it because I can’t stick my nose in too much. Would you be interested in this going ahead, so that I can take an interest in it? New Pacific Metals Corp. New Pacific Metals Corp. engages in the exploration and development of mineral properties in Bolivia, Canada, and China. Walgreens stock price target cut to $37 from $43 at Mizuho
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