Did any of you guys read this part of the announcement on 18th March?
"As a condition precedent to the earn-in, Inca shall transfer all Riqueza concessions to a newly incorporated and wholly owned Peruvian subsidiary (Project Company)'"
The fact we didn't get an announcement today simply means Inca's best guestimate of the time it takes to complete the said transfer is off the mark. That's all!
If you've worked on projects involving lawyers reviewing documents etc ... you should know often times it takes longer than people anticipated. Adding to that, it's not just the lawyers from the two companies. The Peruvian authority is involved in the transfer process as well.
What's going on, page-20
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