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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (16084)	3/11/2016 2:13:00 PM
From: Goose94	Read Replies (2) of 202684

Lundin Gold (LUG-T) times move on Ecuador perfectly Lukas Lundin has a reputation for succeeding in places where others refuse to tread and now he has done so again in Ecuador. Lundin Gold bought the Fruta del Norte project in 2014, it raised a lot of eyebrows, because Ecuador was one of the most inhospitable places in the world for mining investment in the previous six years. Ecuador had no mining ministry, did not hand out concessions and insisted on a punitive 70-per-cent windfall tax that destroyed the potential upside from higher metal prices. Foreign investment by Western miners was close to nil. As usual, however, it appears Mr. Lundin timed his move perfectly. Since his entry, Ecuador has adopted some workable mining policy and has grabbed the attention of the investment community. Lundin Gold chief executive officer Ron Hochstein says, "Mining is no longer a four-letter word in Ecuador." The low point for Ecuador came in 2013, when Kinross Gold ($3.99), gave up on the Fruta del Norte project and took a $720-million writedown rather than spend another penny on it. The project was sold to Lundin Gold the following year.

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