Silicon Investor (SI) -- The First Internet Community

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.

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

To: Claude Cormier who wrote (33261)	12/10/2004 11:11:54 AM
From: Valuepro	Read Replies (2) \| Respond to of 39344

Claude, "It was put in place specifially because of the situation at Esquel and goes againsts the national mining law. This debate is far from over." I agree it's far from over, certainly while field work and promotion continue. The mining bans in Chubut resulted from huge popular demand, and against the wishes of the legislative authorities. They are provincial bans, when they could have been limited, except for the mandate not to limit them. However, to speed the approval of the ban, the environmentalists conceded? to allow a study for potential geographic areas of exemption, but the study was to have been commissioned soon after the law went into effect (some 21 months ago). It never happened, and it's not likely to without a change in voter sentiment. By the way, this potential for exemptions may allow the national court to uphold the bans, since the wording does not specifically prevent any future open-pit mines, or use of cyanide. In other words, it's all subject to approval at some point in the cloudy distant future, pending a study that may never happen - at least not until the provincial population center at Esquel undergoes a change in sentiment. That aside, there is no sense of urgency to settle the matter legally as there is no case making it's way through the system, and I wonder why not? Further, my sense of the issue is that there will be insurrection in Chubut, if the court overturns the bans, but as I said, this is not a pressing matter. The anti-mining movement is so strong in Chubut that these people have even mounted protests at AQIs Calcatreu project many kilometers away IN THE NEXT PROVINCE to the north. IMAs Navidad project is less than half that distance from Esquel, the center of the Patagonian anti-mining movement. If one digs around a little bit on the Web, one will find that the planetary anti-mining community is backing these people - Greenpeace, et al. They've had a success in Chubut and they are trying to spread it throughout southern Argentina. I believe Navidad has a chance of becoming one of the largest silver finds ever. That's why I held this stock, before leaning of this almost-never-mentioned problem, and why I continue to follow it. But, I can't see myself betting against the environmentalists. How often has such a bet paid off any place? Oh, and certain "analysts" I've asked about their positions on IMA do not respond to my queries about why they don't mention the bans, despite the fact of our having previously corresponded on other subjects. Hm, I wonder what's up with that?