| I’m no big fan of the company either; it’s not a reco or a long here, plus its track record in all countries of operation leaves much to be desired. However, seeing PAAS doing only slightly better than the Global X Silver Miners ETF (SIL) over the last ten days is odd, because should be way out in front now it has Navidad in the bag. Perhaps the market thinks the law change will be rescinded in the 30 day cooling-off period, of perhaps it thinks PAAS won’t get its permits to start construction, or maybe it thinks the company will now drag its heels on development and prefer another growth project over one in South Argentina, or maybe even that Navidad won’t move the company dial by much. I dunno, but whatever misconception is holding the price back is plain wrong, Navidad is set to be a seriously profitable mine and with the major bottleneck now behind it, is going to happen sooner rather than later. |
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