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6/3/16

Belo Sun (BSX.to): Still no permit


Despite forecasts of an "imminent" permit award made by certain sellside anal ysts we could mention, the fact is that Belo Sun (BSX.to) and its Volta Grande project is still under review by Brazilian authorities. And if you don't believe IKN (I wouldn't blame you for that), take it from the Secretary of Environment and Sustainability for the State of Pará, its host region in Brazil, who said after the big May 31st meeting between all parties (translated)...

"It is important to make clear that this is a permit still under review"

...and we're not going to get any sort of decision in this first half of 2016, minimum.

In other words, the reason Belo Sun hasn't mentioned this meeting to anyone is that it really didn't go very well. 

And this is just the local political authorities, that's not even starting with the locals who hate the project and are ready with the curaré-tipped darts in their blowpipes.
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