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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (22811)	10/18/2006 10:20:39 AM
From: BSGrinder	Read Replies (1) of 78416

Claude, here is support for your Bolivian thesis that I read on Bill Fleckenstein's site ): ************************ Got this from a mining lawyer in Bolivia... Morales speech about nationalizing mines is pure demagogic. Our friends from COMIBOL and the Ministry of Mines said that the National Federation of Union Miners have called President Morales to tell him to stop saying that mines will be nationalized, because that scares away investment, and that they do not want to loose their jobs. Morales said that mining investment is guaranteed. The National Plan for Mining will be released by the end of the month and the mentioned nationalization means that all the mines that are not going to be explored or mined in a "x" period of time will elapse on behalf of the Bolivian government. COMIBOL will have again the faculties to explore, mine, concentrate and smelt. With the currents mining code COMIBOL is restricted to administrate contracts (JV and lease) with the exception of Huanuni. It is unfeasible that COMIBOL take control of all the existing mines in Bolivia: because they do not have money, and because that could cause civil riots with angry union and cooperative miners against government. COMIBOL has no instructions to prepare anything about taking over mines or similar, they believe that all is just words from Morales Unfortunately the word "nationalization" is being misused by the government in purpose in order to recover popularity for the government. Some companies, as Apogee, decided to stop drilling until the end of the month to evaluate the situation. Personally I do not see nothing like nationalization as we understand it; but the perception if different if you are used to Morales behavior. • For everyone who is concerned about Bolivia. Thanks to the reader for sharing this. *********************** By the way, I highly recommend Fleck's site; it has a small subscription fee: www.fleckensteincapital.com Thanks, /Kit

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