Friday, June 24, 2011

Bear Creek Mining (BCM.v): From IKN111 last Sunday June 19th

UPDATE 3-Peru protests turn deadly as govt halts mine project

 ....that will be backed up by the official announcement in Peru's lawmaking gazette El Peruano tomorrow morning, let's just check back at the brief note in IKN11 last Sunday for subscribers:

Bear Creek Mining (BCM.v): Still watching
No buy decision made on Bear Creek Mining (BCM.v) as yet, basically because I think the market is still buying into the company story that Santa Ana has a decent chance of making it into operation. It hasn’t. So once the false optimism wears off, I’m expecting BCM.v to give me a better entry point than anything seen last week, preferably sub $5.

This was a brief note, but part of an ongoing series on BCM.v at Santa Ana. The call has always been that the project was in serious trouble, by the way. We also forecast bloodshed and loss of lives, also sadly realized today with four deaths as anti-mining protesters in the Puno region tried to take over the local airport at Juliaca.

UPDATE: Local news reports several vehicles on fire at the airport, thick smoke blanketing the area and now deaths are up to five make that six.