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Gold/Mining/Energy : ECM.VSE - El Callao Mining. -- Ignore unavailable to you. Want to Upgrade?

To: yosi s who wrote (1190)	2/6/1999 2:44:00 AM
From: Terry Swift	Respond to of 1253

yosi: Bingo!! Venezuela is not the most hospitable mining environment right now. Lot of confusion regarding property rights and mining laws needs to be cleared up before much will happen. PDG has not yet been able to secure financing for its Las Cristinas mine due to wary banks and the Venezuelan government wants Las Cristinas built bad because they're a partner, so you can guess what chances small juniors and exploration companies have; slim and none. ECM will need a JV partner. I don't expect anybody to do anything until PDG starts building Las Cristinas and they're in no hurry until the Venezuelan government gets their act together and offers a more favorable business climate in general and mining climate in particular.