Orla Mining (TSX: OLA)
The website Mining.com has reported that an activist goup in Panama are to protest against the approval by the Panamanian Ministry of the Environement for the Environmetal Impact Assessment for the Cerro Quema copper gold project in that country.
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| Orla Mining | TSX : OLA |
| Stage | Development |
| Metals | Gold |
| Market cap | C$1.85 billion @ C$6.24 |
| Location | Zacatecas, Mexico + Nevada + Panama |
Comment
What a shame that Panama is becoming another country turning bad for mining and resource companies.
I expect the Orla shareprice to fall today as a result of this news, but Panama is most definitely their least important project of the three they own, so any real weakness may well become a buying opportunity, in my opinion.
Railroad in Nevada is the next focus now that Camino Rojo is up and running, so whilst clearly they want to mine in Panama, it’s the least important project currently, which may limit the downside in the short term, whilst this is hopefully resolved.
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Orla Mining’s Cerro Quema Project Targeted by Panamanian Activists
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Orla Mining (TSX: OLA) The website Mining.com has reported that an activist goup in Panama are to protest against the approval by the Panamanian Ministry of the Environement for the Environmetal Impact Assessment for the Cerro Quema copper gold project in that country.
The Newsroom Panama website adds “The Front Against Mining Santeño (Fresacomi) representing farming smallholders, has approved protest actions against the Cerro Quema mining company as heavy earth moving equipment has moved into place.
The environmental director of Cerro Burn, Basilio Perez clarified that what they are doing with the earth moving equipment is to improve the roads for drilling in the Quema.”
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To read the Newsroom Panama article in full, please click HERE
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Disclosure
At the time of writing the author holds shares in Orla Mining
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