12:16:54 EDT Tue 23 Apr 2024
Enter Symbol
or Name
USA
CA



Tahoe Resources Inc
Symbol THO
Shares Issued 312,517,240
Close 2017-07-06 C$ 7.19
Market Cap C$ 2,246,998,956
Recent Sedar Documents

FP says Tahoe shares plunge as court pulls mine licence

2017-07-07 09:08 ET - In the News

The Financial Post reports in its Friday edition that Tahoe Resources' shares plunged Thursday amid widespread stock downgrades after a Guatemalan court suspended the licence for its Escobal silver mine. The Post's Sunny Freeman writes that Guatemala's supreme court issued a provisional decision to temporarily revoke Tahoe's licence in response to a lawsuit filed by human rights organization CALAS against the country's Ministry of Energy and Mines. The group alleges that the government violated indigenous rights to consultation when it granted Tahoe's permit. The suspension is a temporary measure and Tahoe said it will immediately appeal to the country's constitutional court. It believes its operating licence should remain in effect while the case is being reviewed based on a prior consultation ruling by the constitutional court and said it will also ask the Supreme Court to reconsider its ruling. Shares in the Vancouver-based miner fell $3.57 to close at $7.19. Haywood Securities changed its rating from "hold" to "sell" as a result of the uncertainty over Escobal's future, saying it expected the mine to be shut for the rest of the year. Last month, a group of protesters blocked access to the mine.

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