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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: pocotrader who wrote (8659)	8/21/2014 12:58:40 PM
From: Veteran98	Respond to of 203679

I was under the impression the claims reverted back to the government of Ecuador but it looks like there maybe hope for Kinross yet...... Kinross Gold Making Something Out of Nothing in Ecuador Article Preview — For full access, register below, it's free By Rich Duprey \| More Articles June 3, 2014 \| Comments (2) Fruta del Norte, Ecuador. Source: Kinross Gold. A glimmer of hope may shine through yet on the Ecuadorian Fruta del Norte project Kinross Gold (NYSE: KGC ) was forced to walk away from last year. Bloomberg News reported the government may renew the miner's rights to the concession, giving Kinross the opportunity to sell the $1.2 billion project (bought in 2009 through the acquisition of Aurelian Resources) and recoup some of its losses. Kinross reportedly hopes to realize about $300 million from the sale. Fruta del Norte was once hailed as one of the world's biggest gold discoveries, but rapacious government tax policies all but killed all hope Kinross could see any of the riches from the site. The mine is estimated to hold 6.7 million ounces of gold in proven and probable reserves and 9 million ounces of silver. Additionally, there are measured and indicated 67,000 ounces of gold resources and 1.412 million ounces of silver. Kinross had originally planned to produce some 400,000 ounces of gold annually by this year. However, following Ecudao…