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Gold/Mining/Energy : Gold Price Monitor

GDXJ 110.89

+1.8%

Dec 10 4:00 PM EST

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To: John Soileau who wrote (31539)	4/11/1999 4:59:00 PM
From: John Hunt	Read Replies (4) of 116810

The Panama-China connection << Following are some key "rights" from "law #5" granted to China's Hutchinson-Whampoa Ltd.: Responsibility for hiring new pilots for the canal. (Pilots steer all ships passing through canal); Assume control over critical Atlantic/Pacific anchorages, including a monopoly on the Pacific side when Rodman Naval base is vacated next year.(According to "law #5" effective March 1, 1997, Hutchinson has right to demand Rodman); Authority to control the order of ships utilizing the entrance to the canal on the Pacific side. Also the right to deny ships access to the ports and entrances of the canal if they are deemed to be interfering with Hutchinson's business -- in direct violation of the 1977 Panama Canal treaty which guarantees expeditious passage for the U.S. Navy; The right to unilaterally transfer its rights to a third party (any company or nation of their choosing); Certain public roads become private, cutting off strategic areas of the canal. >> worldnetdaily.com Hi John Thanks for the background on Li Ka-Shing. There does seems to be significant concerns in the US government about this issue, as per the above article. John

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