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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: marynell who wrote (2375)	3/13/2002 2:48:24 AM
From: TheBusDriver	Respond to of 39344

<<The company and analysts presented the town as though it was a tiny village, a third-word collection of a few mud shanties with a few pigs and chickens in the streets>> That is my recollection as well. I was shocked when I saw the photos of the town! Well developed. Nice homes. Wayne

To: marynell who wrote (2375)	3/13/2002 4:34:39 AM
From: marcos	Respond to of 39344

This was my impression too ... never held the stock, it got away on me early on and i wouldn't pay up, but when the story first came out about opposition from the town i checked back on all company statements, read the threads etc, and nowhere had an accurate description of the town been supplied ... definite failing on the part of management at the time Opposition to mining there might seem not to make sense, until you reflect on the most common history with the industry in those parts - mining means foreigners coming in and taking value while the locals get nothing and are often enslaved to do the dirty and dangerous part of the work .... the choice for many there is not between growing mangos or making megabucks in the mining biz, it is between having mango trees or not having mango trees ... a canadian company could easily assuage its conscience and write a big cheque to the town or municipio or whatever, enough to cover moving the town and establishing new farms, what tends to happen in too many of these cases is that a very few individuals end up with the money while the families of ten thousand farmers starve to death in the hills into which they've been run, or end up in slums of some major city I'd like to see real independent reports on Tambogrande ... not anything put out by the company or anybody related to the company, nor by peruano government, nor by some leftie hack with a political agenda ... probably wouldn't be satisfied of knowing the truth until i went there myself, and perhaps not even then ... on the face of it the whole thing looks so logical, plenty of mineral wealth there to make everybody fat and happy, but the reality of how and when and whether you get to that point, that is another thing entirely

To: marynell who wrote (2375)	3/13/2002 7:26:47 AM
From: russwinter	Read Replies (2) \| Respond to of 39344

<real TOWN, not a few shacks> DD on the town is fairly presented in the 2000 annual report pages 13-15, including a photo. Town pop. is 16,000, and 1600 of 4000 households are deemed affected by the TG-1 operation. The surrounding countryside are small farming communities. The other VMS deposits are rural. Primary concern of the rural community: water supply impacts. The development of TG-1 will create 1500 jobs during construction, and 400 jobs during operation. There is an estimated spin off of 2,000 jobs and technical staff will be drawn from Peru primarily Piura. Current per capita income is $480/year. Average wage paid for mine staff: $11,000. Total wage income $6.6 million plus $3.3 benefits equals 150% of the entire town's income today. Direct benefits to the Peruvian government over mine life: hundreds of millions, maybe approaching a billion if the district gets developed out. What Peru does (waste, corruption versus useful purposes) with a billion bucks should be a national political issue, and is not the responsibility of a Canadian mining company.

To: marynell who wrote (2375)	3/13/2002 9:58:34 AM
From: Claude Cormier	Respond to of 39344

<The company and analysts presented the town as though it was a tiny village, a third-word collection of a few mud shanties with a few pigs and chickens in the streets. I > I never got this impression from my talks with the company. They always consider it as a town and knew it was a serious challenge.