Tuesday, May 17, 2011

Bear Creek Mining's (BCM.v) share price is holding up pretty well, considering....

...that they're just about to be kicked out of their Santa Ana project in the South of Peru.

I mean, did you know that the protest from locals against this project has caused the closure of the borders between Bolivia and Peru? Did you know that the national government is down there right now trying to negotiate a settlement with people that are insisting on one thing and one thing only, the immediate and definitive withdrawal of Bear Creek (BCM.v) from the project? Strange how the company has been so quiet in the English language news dissemination whilst emitting multiple communiqu├ęs in Spanish for the benefit of its Peruvian audience, innit? 

When the market realizes just how deep in the doo-doo BCM is with this project that's supposed to open in 2012 (though only in a parallel universe), this one is going under $7.

Disclosure: Unlike the bagholders at Casey Research, no position.