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Gold/Mining/Energy : Manhattan Minerals (MAN.T)
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To: Claude Cormier who wrote (4299)2/15/2002 9:21:15 AM
From: charred  Read Replies (1) of 4504
 
Here is reality. The mangos will grow forever and the mine as a limited life. What about 20 or 30 years in the future? People in the region who own the surface rights do have the right to protest and choose if the price is right.

The Tambo Grande region is very rich in agricultural. Sure they will have better homes but for how long? What happens after?

The politicans in Peru want this mine because it's good for the overall economy for the next 10 to 15 years. Like in Canada the politicans longterm thinking is approximately 5 years or the next election cycle. Sure MAN has the government on it's side but no progress has been made with the locals. It's been several years. I would be very careful if I was an investor here.

I am on the side of the local Peruvian. It is their choice. The land they have is very rich. Hopefully one day the small time farmer can borrow against his land to invest in better farming equipment etc. How is this done? I suggest you attend this talk at the PDAC from Hernando de Soto a Peruvian Econonmist" The mystery of capital: Why capitalism triumphs in the West and fails everywhere else". And maybe the land can be richer growing mangos than mining gold?

There is another property in Peru called the Super Tajo which contains a huge Pb-Zn-Ag deposit. They are having the same problem. Here there is no town just pasture but the problem is that it is owned by over 1000 individuals.

Just all my opinion.

Saludos
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