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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 (61105)	9/10/2008 11:03:21 AM
From: Proud Deplorable	1 Recommendation Read Replies (1) \| Respond to of 78419

Well your assessment is neither how Kinross feels or any of the other players in the industry. You have been hoodwinked by IMAGINARY risk, yes that's right..imaginary and propaganda from the media and you know you cannot trust the media. Are you able to find one reason why not to invest in Ecuador. Go ahead try your best but read this first Xstrata, Codelco, Tongling eye Ecuador copper play By Alonso Soto QUITO, Sept 9 (Reuters) - Xstrata Copper, Chile's Codelco and China's Tongling are eyeing a potential partnership to develop one of Ecuador's major copper plays, the Panantza-SanCarlos copper property owned by Canada's Corriente Resources,government officials told Reuters on Tuesday. Corriente (CTQ.TO: Quote, Profile, Research, Stock Buzz) has been looking since early this year for partners to develop the property in southern Ecuador, and has hosted due diligence trips from interested parties. Two senior mining ministry officials, who spoke on condition of anonymity, said China's Tongling Nonferrous Metals000630.SZ, Xstrata Copper (XTA.L: Quote, Profile, Research, Stock Buzz) and No. 1 copper producer Codelco, a state-run Chilean company, have visited the site. "Those three companies have met with us and been briefed on the country's goals in the sector," said one of the senior officials, adding that the companies are part of Corriente's majority partnership marketing process carried out by Citi and Canaccord Adams. Corriente Senior Vice President Dan Carriere declined to say if the three companies were part of the marketing process,citing confidentiality agreements. "I can tell you that we are very pleased with the level of interest by multiple groups," Carriere said. "There is currently a group on the field." Xstrata Copper, one of the world's biggest copper producers, would not comment on the project directly, but did say it has looked at Ecuador for opportunities. "We've looked in Ecuador as we've looked in many other countries as part of a business development exercise to see what projects are out there, but we don't have any current plans to develop projects in Ecuador," said Emily Russell,spokeswoman for Xstrata. Codelco and Tongling could not be reached for comment. The Panantza-San Carlos project has inferred resources of14.4 billion pounds of copper and Vancouver-based Corriente says it will cost about $1.3 billion to develop. A so-called preliminary assessment technical report published on the property in December last year projected average annual metal production over the first 10 years of approximately 418,000,000 pounds of copper (190,000 tonnes),22,800 oz gold, 1,110,000 oz silver and 2,800,000 pounds (1,270tonnes) of molybdenum.(Additional reporting by Pav Jordan in Santiago)