Having seen Greg McCoach's recommendation I was looking at Tinka as a promising early stage silver play. But I don't think I'm going to bother now that Humala has won the Peruvian election.
I had a bad experience with Aurelian Resources in Ecuador after Correa won the election. They said that he wouldn't do anything silly, just like they are saying the same thing now about Humala. But I can't see how it's going to turn out well down there. There's no doubt he's going to do some appropriations, and even if it's not in the neighbourhood or sector it's going to make everyone go wobbly.
Any other early stage silvers in safer jurisdictions?
Hi all, hi silvenomics.
I bought some of TINKA too some months ago and till yesterday I was "a little" worried reading about Peru and Humala.
But... here it's what I think after having read all around the web: at the moment Peru has one of the most convenient taxes for mining companies: 30%, the other countries like near Chile is about 35%. Humala made a proposal to raise tax to 45% but this possibility is quite far as Australia too made tha same choice raising taxes for miners to 40% but in 2010 had to go down back at 30%.
Peru hasn't the money to extract what they have, and taxes is the only way they have to get back some of that money that is needed for the poor class. Yeah TINKA in these days went down, but remember too that at the end TINKA is not a real Junior miner but "only" an exploration company for other investord, and everyone could be an investor... in the worse a nationalized mining company too ;)
This is IMHO, I apologize for my poor english as I'm an only an italian ;)
Bye from the Hell :)
Was researching Tinka today and came to the same conclusion as you regarding Humala. I've got enough portfolio problems without some budding socialist taking control of my investments.
Try Wildcat Silver (WS.V) Arizona company with some pretty good property. It trades on the TSX. Worth a look.
Now, how in the hell do I post this comment??
Best of luck,
If you can't take the heat, don't invest in Peru, overseas. The Fundamental View has some excellent write ups on peru and tinka. IKN regularly posts on peru politics. SGS appears to own several shares of Tinka and has been , shall we say, a constant delightful proponent of their activities and prospects. they appear to be prosecuting their exploration plans well.
Plus they also have copper.
Tinka Resources’ 3D Drill Tour- kinda neat.
June 22, 2011, Tinka Amends Terms of Private Placement Financing.
June 1, 2011, Tinka Announces Private Placement Financing.
May 24, 2011, Drilling Commences at the Colquipucro Silver Project, Peru.
March 25, 2011, Tinka Announces AGM Results.
March 7, 2011, Tinka Signs Drill Contract for Colquipucro, Peru.
March 4, 2011, Tinka Grants Stock Options.
February 7, 2011, Tinka Receives Permit to Drill Colquipucro, Peru.
February 2, 2011, Tinka Receives Permit to Drill Tibillos, Peru.
January 24, 2011, Tinka Identifies Drill Targets at Tibillos Copper Porphyry Project, Peru.
You’ve most probably read my previous posts on this subject before since I have been following the story given my investments in Peruvian mining stocks. Today I came across an article from the Vancouver Sun that reiterates what I have been trying to say since this fear broke out. It also serves to re-affirm my view that there may be a fear trade in Peruvian mining stocks that we as investors might want to take advantage of.
I own shares, though not enough.