Aris Mining (TSX: ARIS)

Aris Mining has been a good investment for me, up around 50% in a few months, helped by a healthy rise on the gold price of course.

I sold the stock this week on the back of the Colombian government’s new mining law, which introduces uncertainty, and I don’t like uncertainty when I’m investing my own money.

 

 

Why I sold Aris Mining This Week

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Aris Mining (TSX: ARIS) has been a good investment for me, up around 50% in a few months, helped by a healthy rise in the gold price of course.

I sold the stock this week on the back of the Colombian government’s new mining law, which introduces uncertainty, and I don’t like uncertainty when I’m investing my own money.

I have always been a bit wary on the Colombian government’s anti mining stance, but this new law threatens the producing miners, despite the fact they produce billions of dollars tax from the government, and provide employment.

Now this new law is being introduced, it’s possible a nature reserve could be declared in any part of a company’s licence, and their project terminated, see HERE for full details.

So, despite Aris Mining being a good company, this new threat towards mining in Colombia has led me to sell my holding and bank the profit.

Interestingly, since the announcement the stock has fallen over 50 cents, which suggests I’m not the only one deciding to sell since this news was released by the government.

I’m reasonably risk tolerant, but where politics is concerned, I prefer to play safe, as things can change in the blink of an eye, and that’s a level of risk I am not prepared to accept.

So, sadly I wave goodbye to Aris Mining, a stock that has benefitted me well in just a few months. As the old adage suggests, it’s not a profit until it’s in the bank.

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The live gold price can be found HERE

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Disclosure

At the time of writing the author holds no shares in Aris Mining.

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