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Gold/Mining/Energy : ARU.V Aurelian Resources Inc -- Ignore unavailable to you. Want to Upgrade?


To: safeharbour who wrote (311)3/11/2007 1:36:02 PM
From: BritNick  Respond to of 516
 
Excellent post, thanks safeharbour.



To: safeharbour who wrote (311)3/11/2007 4:57:47 PM
From: BritNick  Respond to of 516
 
If they can some how oust Correa prior to the referendum it will bode well for all foreign investment.

The 3 biggest challenges will be:

1. Getting the media on board, looks like that is happening.

2. Cause some dissent in the military and police.

3. Restoring the Congress by getting the 57 congressmen back in place.

Number 2 seems to be the biggest challenge right now, Correa is still very popular with the people (70%) The OAS did not help the "oust Correa cause" yesterday as it supported the need for the referendum.

It would appear to me that Correa will win this round and get them to the referendum stage, that is when it will get interesting. Once the Constituent assembly is in place expect major in-fighting by the various members and special interest groups. If Correa tries to impose his will on this group he will lose friends/support fast, that is when they may take another run at him.

Ecuador power players have historically waited until a President is out of favour before they punt or impeach. Patience with the political process is not something the people have shown, if poverty remains high Correa's tenure may be short lived.

How does this affect foreign investment and ARU? I believe that unless the government comes right out and clarifies its position with respect to mining we are stuck in this quagmire of uncertainty. Another possibility is that they make moves that positively affect mining and exploration, such as CTQ being allowed to move forward or DMM being granted the permits that they have applied for.

ACX looks like a dead dog but you never know, if they see some positive progression it will bode well for all mining plays as they are cast as the bad guys in a big way.



To: safeharbour who wrote (311)3/13/2007 8:32:17 PM
From: BritNick  Read Replies (1) | Respond to of 516
 
Another crazy day in Ecuador, it seems through this translation that 10 of the punted legislators tried to enter the National Congress and a battle broke out with the police.

Congress has now been suspended until March 20th, at that time Correa hopes to have substitutes in place so congress will have enough bodies to function.

Meanwhile ARU releases relatively positive results. Those that think this political turmoil has nothing to do with the SP are not playing with a full deck. (You know who you are)

We are below the 200 day mda and there is no bottom insight. I guess some solace can be taken in the fact that the entire sector was down today. ARU has not been taking part in the rebounds as of late though.

Here is the article:

Date: Portoviejo, 13-03-2007 Source: Eldiario.com .ec

The political chaos in Ecuador breaks out again.

The intensity of a group of legislators to want to enter the National Congress to sesionar, caused confrontations that left like results four wounded people.
Two deputies, a police and a partisan of the dismissed ones were with wounded from the altercation, the most serious injury to legislator Hugo Romero, who fell from a wall when trying to enter in the seat of the Legislative one, according to the police.

Competing deputy Sylka Sanchez, of Institutional the Renovador Party of Acción Nacional (PRIAN), accused the police of attacking them.

This was denied by the legislative convoy commodore, colonel Jorge Cave, that it accused, as well, to the stopped congressmen, the week last “to interfere” with the process of popular consultation to restore a Constituent Assembly, to want to enter to force a delay.

The deputy and vice-president of the Congress, Edison Chávez, of Partido Sociedad Patriótica (PSP), also dismissed by TSE, appeared in the street with a patch in the eye and assured that she had been attacked by the police.

Incidents

The incidents began early, when ten deputies of the PRIAN and the PSP tried to break through an encirclement of police that guarded one of the lateral accesses of the legislative enclosure.

After almost one hour of struggle, the police allowed that the dismissed legislators arrived soon until an external patio from the enclosure and at the hall the plenary session, by order of president, Jorge Cevallos, also of the PRIAN, but that is not in the list of the 57 stopped by TSE.

They suspend session

The head of the parliament officially suspended the session, , after taking complaints from the terminated congressmen, which was criticized by other opposite congressmen to that their colleagues return.

In the room of the plenary session, where list went to the deputies, they were present 24, including Cevallos, which in any case did not allow to install the session, since a quorum of 51 is required, half plus one of the 100 members of the camera.

They accuse the Government

To the shout of “dictatorship no, democracy yes”, the dismissed ones accused the government of the leftist president, Rafael Correa, of being the cause of the “chaos” and the “institutional rupture” in the country, after labeling as “inconstitucional” their ceases on the part of TSE.

Deputies dismissed that was inside the Congress, and who in principle announced that to only they would remove “deads them”, had to evacuate the enclosure aceleradamente, to avoid to be reached about hundreds of demonstrators who congregated themselves in the outskirts of the legislative seat.

The TC said no

The Constitutional Court announced in the morning that he did not admit to give proceeding to the request of the president of the Congress to dissolve the conflict between Legislative and TSE, originated by the call of the consultation.

Cevallos requested to the TC to lapse the resolution of the Congress in which it replaced the president of the TSE, Jorge Acosta, and the later one of the electoral organ in whom 57 deputies of the groups of most of the Legislative one were dismissed, opposed to the government.

“To call to the substitutes”

On the other hand the Ecuadorian president, Rafael Correa, expressed his malaise by the violent events, at the same time that its endorsement to the destitution of the 57 legislators ratified.

The agent chief executive expressed his hope of which the Congress resumes its work the sooner, summoning the substitute legislators, who also will form a competing majority, but hopefully “rational and reasonable, that is fitted to the Constitution and the laws”.

A competing majority “that does not try to impose its will illegally, because is not going here to accept dictatorships of any species”, added Strap.