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

To: ogi who wrote (58599)	4/17/2008 10:31:23 PM
From: Rocket Red	Read Replies (1) \| Respond to of 78405

you can't but they got there machine working overtime now Aurelian CEO disappointed by Ecuador setback Posted: April 17, 2008, 6:40 PM by Peter Koven Mining Patrick Anderson, chief executive of Aurelian Resources Inc., told the Financial Post on Thursday that his company was caught completely off-guard by the Ecuadorian government's plan to potentially shut down all exploration activity in the country for several months. On Friday, president Rafael Correa's government will look to pass a mandate that calls for all mining and exploration to stop for 180 days or until a mining law is completed. The news pushed shares of Aurelian and Corriente Resources Inc. sharply lower. Mr. Anderson said the proposal came after pressure from a small but very vocal element of Mr. Correa's leftist government. "It's a very green faction of his political party trying to flex some political muscle," he said. This setback comes as a great surprise to Aurelian because Mr. Correa himself has been a strong supporter in mining. Mr. Anderson said the president was on the fence about mining when he first took office in early 2007, but became a believer after a long education process. “He's really come around and been incredibly bullish on mining. So this is a real shock to us. And yeah, a disappointment,” Mr. Anderson said. It is still not clear exactly what the government will decide to do Friday. Mr. Correa indicated that he wants to scrap mining concessions on which no work has been done, which theoretically should not affect Aurelian or Corriente. Aurelian, which has a massive undeveloped gold resource in Ecuador, is now engaged in a last-minute lobbying effort to prevent a suspension. The company will provide more clarity on the situation Friday once the a the government makes a decision.