guildThe secondary approval process seems to be an attempt to...

guild

The secondary approval process seems to be an attempt to address a political problem leading into provincial elections. My impression, from what pedro and others posted, was that there may have been some popular disquiet oozing over the Bolivian border about foreigners taking local wealth for a low price.

So if a decision to let ORE develop the Olaroz project was seen as an electoral negative for the current government then maybe a decision will be held over until after the provincial elections. And I think those elections are due at the end of October. So maybe we will all have to wait until November for the secondary approval to be announced.

But if the current provincial ruling party wants to promote the project as a means for jobs and wealth for the locals then maybe they will time the approval decision to be announced in the lead up to the elections, maybe September.

And yes once again they have missed a deadline, with the Grandes announcement. In itself it is a pretty important announcement given the lack of news likely from Olaroz in the next month or so. A solid set of numbers may also incite speculation about possible joint venturers for Grandes, which will also help fill the news void for a while.