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Strategies & Market Trends : Ride the Tiger with CD

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To: Rocket Red who wrote (120077)	6/24/2008 2:41:07 PM
From: Proud Deplorable	Read Replies (1) of 313009

Key figure behind Ecuador's restrictive mining policy reported willing to resign Peter Koven, Financial Post Published: Tuesday, June 24, 2008 Reports out of Ecuador suggest Alberto Acosta, chief architect of the infamous mining mandate that shut down mining activity in the South American country, has offered to resign his post as leader of the constituent assembly because he feels he is not supported by the governing Alianza Pais party. BMO Capital Markets analyst John Hayes says this could have implications for shareholders of Aurelian Resources Inc. (ARU/TSX), who have seen the price of their shares fall dramatically as a result of Mr. Acosta's policy direction. According to Reuters, Mr. Acosta wants the assembly to have more time to finish rewriting the country's constitution, which would include a proper mining law. It is unclear whether his resignation will be accepted. Investors clearly think his departure would be a positive, as shares of Ecuador miners rallied yesterday, Aurelian closing at $5.38, up 77¢.

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