The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: No Mo Mo who wrote (276707)	9/17/2010 6:54:31 PM
From: koan	Read Replies (1) of 306849

Why would this news release cause the stock to pop? They have a huge copper/gold property in chile I think? newgoldinc.com New Gold Inc (C-NGD) - In the News Globe says Teck, others mull royalty increases in Chile 2010-09-17 08:32 ET - In the News Shares issued 391,667,266 NGD Close 2010-09-16 C$ 6.16 From In the News (C-TCK) Teck Resources Ltd The Globe and Mail reports in its Friday edition that Chile is close to increasing mining royalties. The Globe's David Ebner writes the lower house of the Chilean Congress this week passed a bill to increase royalties and now it needs approval by the country's Senate. Chile is the world's largest copper producer. The country's goal is to raise $1-billion (U.S.) over the next three years to help fund reconstruction after an earthquake earlier this year, as well as health and education. An earlier proposal by conservative President Sebastian Pinera had been rejected in the summer by the left-leaning Congress for being too soft on the mining industry. Higher royalties and taxes directly affect the calculated value of mines and the stocks of companies with stakes in them, noted analyst John Hughes at Desjardins Securities. "It creates another uncertainty in terms of what a resource is ultimately worth, and therefore the stock," Mr. Hughes said. The prospect of more expensive mining in Chile comes as Australia continues to mull a tax increase. All of Canada's largest miners, from Teck Resources to Barrick Gold, are active in Chile. There are also several large projects in development.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next