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 : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (52452)	11/7/2007 3:56:39 PM
From: goldcat	Read Replies (1) \| Respond to of 78430

Here is full text: PUEMBO, Ecuador, Nov 7 (Reuters) - Ecuador plans to impose new mining royalties on private companies working in the country on a "case by case" basis, Oil and Mining Minister Galo Chiriboga said on Wednesday. Ecuador previously had said it wanted to begin charging royalties in the mining sector, but details of the government's proposal and how it will be implemented are still unclear. "That has to be applied depending on the characteristics of each one," Chiriboga told reporters at a government event when asked about the royalty proposal. Chiriboga said the government was working on a proposal to set mining regulations in the new constitution, which will be debated by a popular assembly this year. He said officials also planned to reform the current mining law. Companies currently pay an annual ownership fee to the government. Ecuador still has no major mining output for precious metals, but Canadian companies such as Corriente Resources (CTQ.TO: Quote, Profile, Research)(ETQ.A: Quote, Profile, Research), Iamgold Corp (IMG.T0: Quote, Profile, Research) and Aurelian Resources (ARU.TO: Quote, Profile, Research) are exploring for gold and copper. (Reporting by Alonso Soto in Quito, writing by Patrick Markey in Bogota; editing by Walter Bagley)

To: Claude Cormier who wrote (52452)	11/7/2007 4:25:31 PM
From: marcos	Respond to of 78430

By 'private' they mean non-government ... probably a translation of empresas privadas, means all companies whether 'public' or 'private' as we know them ... state owned firms are called empresas públicas That's not really new news there ...

To: Claude Cormier who wrote (52452)	11/7/2007 10:42:28 PM
From: Proud Deplorable	Respond to of 78430

ATTN ARU Bashers................ ------------------ "Fellow Longs, On the other ARU boards you have the usual suspects (moron bashers) who claim they are long but post negative innuendo and try to dismiss and down play any good news. They attack the credibility of any poster who posts anything positive. They have been constantly trying to suggest that Ecuador will level an exorbitant tax on mining companies and have been posting continuously along this line for over a month now. This has been nothing but propaganda to soften up investors for when they release the real propaganda through an official news channel. This is the same reporter who wrote the other 2 previous stories that proved to be nothing but fear mongering to put it nicely.They did however succeed in dropping the share price of ARU dramatically at the time. It is peculiar DMM in Equador set a new share price high and closed in positive territory today. I am rather pleased that ARU held up rather nicely considering the pummeling the markets took today. I find it also rather coincidental that this news just happens to be released while the markets are in turmoil just for added effect. This latest story is meaningless because it contains no facts and no real information that we did not already know. It is nothing but innuendo and phrases that could have been taken out of context. Almost anything could be read into what was reported and I believe that is the point of this latest offering. Untill some real numbers are proposed by the Ecuadorian governement the whole topic is pure speculation. I will continue to base my investment in ARU on the logical suposition that any new mining taxes will be fair and attractive in order to bring in further mining investment. The only other country I know of to have brought in a stupid win fall tax on mining ( Mongolia ), is in the process of revising it, because the amount of gold sold to it's central bank has droped in half since they introduced it. Supposedly they introduced it as a test case study for base metals mines. Well I think they got there answers, it does not work if you want a mining industry. Once again ARU held up nicely considering the poor day the markets had and was down only a little on small volume dispite the latest suspect news. There are not many weak hands left holding ARU. Regards, F.F."