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Gold/Mining/Energy : Manhattan Minerals (MAN.T)
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To: charred who wrote (4366)5/13/2002 8:45:10 AM
From: russwinter  Read Replies (2) of 4504
 
<Where did you get the $300 figure?>

2000 AR, page 13 states district per capita income as $480/year, with the area south of the river as lower, so many people there only earn the scrapping by $300 number, and virtually all are poor even by third world standards.

<There is more to it.>

Both MAN ARs for this year (just received) and last are about the best I've ever seen for the junior genre. Anybody considering this play should carefully read both. They also go into their commitments and programs (also called the "social license")to the community. Indeed the title of this year's report is "Commitment". It's clear (to me at least) that they have no intention of conducting a slash and burn operation. I also suspect that when the time comes to select their major partner in the development, it will be someone with an outstanding reputation for integrating (oxymoron, I don't think so) mining into the social and environmental equation. This economic effort will be on a world class, not a podunk scale. It's easy to visualize one of the largest mining operations in the world here, and it's going to be done with 21st Century standards, not 19th century ones. And as I keep repeating, the Peruvian government also stands to earn as their share, hundreds of millions, if not billions in profits over the long lives of these various deposits. Only the most cynical would assume they won't recycle a good portion of that back to the TG district.
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