On March 06, 2019, BioBio, a Chilean media company, published an article stating that Lundin (TSX: LUN) is being investigated for an alleged $23.6 million bribe to Tierra Amarilla Town Hall in September of 2015. The article claims that the bribe was to avoid legal action that could hinder the approval of the Environmental Impact Assessment (EIA). When the news came out, the stock sold off aggressively, the stock hit an intraday low of $6.15.
By Charles Marleau, CIM & Joany Pagé, CFA
By Hubert Marleau
By William Mitchell