Fortuna Mining: Burkina Faso Is Not Withdraw Existing Mining Permits | Arcadia Economics

Well, hello there my friends! Chris Marcus here with you for Arcadia Economics and a quick update on Fortuna as there has been some news that certainly has been affecting their stock today, but there was also a response out of the company and just wanted to run that by you because here we can see Fortuna responds to recent media reports concerning Burkina Faso, as on October 5th Burkina Faso’s president Ibrahim Traore made public comments regarding mining companies operating in the country and the possible withdrawal of existing mining permits. Fortuna sought clarification from the country’s ministry of mines and has received confirmation that the government has no plans to withdraw existing mining permits which are in compliance with Burkina Faso’s laws and the Aramoko mine is in compliance with all material laws and operations continue to be conducted normally so again the stock was down a bit on that news that came out as our friend Dave Kranzler elegantly puts it, market jump, Fortuna on Friday Night News and now it’s ignoring the resolution to that which explains any mining code in compliance with the new laws will not lose its license.

Dave was out there buying four and a half strike calls which he alerted me to so anyway that is why the stock is down although fortunately we do have this confirmation from Fortuna so just wanted to pass that along as well as another note that that Jorge de Noza put out last week in regards to something that had come up about the San Jose mine and he mentions irresponsible groups use an event of heavy rains in Oaxaca a few days back to spread information and alarm around our San Jose mine. Federal inspection committee, a federal inspection confirmed the mine infrastructure is intact and no contamination whatsoever has occurred so certainly for Fortuna shareholders that is good news to see that even as these stories have come out company is on top of it and again I’ll put the link to the press release so you can take a look through that yourself but good news from Fortuna unfortunately that the stock is down but anyway I just wanted to pass this along so you can have full information and if there is any further news we will update you with that soon so hope you’re having a great day out there and we’ll see you again tomorrow!
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