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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: orkrious who wrote (3284)12/18/2005 11:32:43 PM
From: Proud Deplorable  Read Replies (1) of 78417
 
"We’ve got an election in Bolivia this weekend and it looks really bad. And it’s a Chavez-backed person who’s likely to win that. Now Bolivia is not a big deal anymore, we’re not talking about the Patino tin mine, but it is a major natural gas producer and this is viewed as something where the natural gas thing will be nationalized.

But the victory for this radical in Bolivia suggests that the next big election, which is PERU next year, the leader in the polls there is somebody who actually makes Chavez look somewhat moderate and a Chavez ally with financial backing from Chavez. And so this is already knocking the PERUvian stock market down. And we’re talking here about the world’s fourth biggest copper producer.

This is not a trivial election. Because if these mines are nationalized, and the candidate there is talking about abolishing currencies and abolishing private property, I mean, he’s a true radical and a person who’s been prepared to actually engage in open warfare. It’s hard to put a good spin on this story. "

COXE
Message 21982442

So don't be a long term holder of Peru Copper without watching events unfold in Peru which could send it to the bottom while copper itself soars...hedge it.

Message 21984270

Message 21982692
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