ECM.VSE - El Callao Mining. Message Board

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Gold/Mining/Energy : ECM.VSE - El Callao Mining.

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To: virginijus poshkus who wrote (1158)	6/13/1998 10:29:00 AM
From: John Soileau	Read Replies (1) of 1253

Makes my weekend!: "While Cristinas was held up in court, nobody was doing anything," the Venezuelan mining chamber's legal advisor Jorge Neher said. "A lot of people will be making decisions based on this ruling," he added. Although the government is eager to jump start Venezuelan gold mining and boost production to 50 tonnes per year from 12 currently, lawyers said the case had combined with an outdated mining law to drive the cost of risk insurance through the roof. That, with the legal uncertainty, had forced many to put their projects on ice. "The decision shows the justice system may be slow, but it works," Courtney Neeb, Venezuela president of Bema Gold Ltd said. "With this, we go straight into feasibility studies for our Lo Increible mine," he added. From a wire report on the KRY decision. Full text is on the BGO thread. Any predictions about how many months to a mine decision on Lo Increible? John

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