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Gold/Mining/Energy : BALACLAVA MINING (BIL.V) -- Ignore unavailable to you. Want to Upgrade?

To: charred who wrote (136)	2/26/1999 12:58:00 PM
From: chevalier	Read Replies (1) \| Respond to of 139

Would you not consider this stock to be an excellent rollback candidate? They have little cash at the moment, the stock is not controlled by management and they are in search of a deal. If I was in their shoes, once I found a new property I would rollback the stock and finance it then.

To: charred who wrote (136)	3/10/1999 7:33:00 PM
From: George Castilarin	Respond to of 139

Wednesday March 10 12:32 AM ET Ecuador Declares Emergency, Facing Crippling Strike By Gustavo Oviedo QUITO (Reuters) - Ecuador's government declared a ''national state of emergency'' and called out the military Tuesday to man basic services during a general strike set for Wednesday and Thursday to protest against economic austerity policies. President Jamil Mahuad's government said the military would also give ''all necessary support'' to keep the Andean nation's vital oil industry going during the strike. Trade unions angered by government austerity plans in the crisis-ridden South American nation are threatening to paralyze industry and bring oil production to a halt. Mahuad earlier Tuesday extended an emergency bank holiday through Thursday to keep panicked citizens from withdrawing their savings as the government prepared potentially drastic economic measures. Monday was declared a surprise holiday following a run on banking deposits last week. Interior Minister Vladimiro Alvarez said the state of emergency would not infringe on citizens' rights. But he said it would guarantee order, and that all gatherings that could threaten public order would be banned. ''The armed forces will give all necessary support to oil installations and will help maintain basic services, order and national security,'' Alvarez told reporters. ''All of the republic's territory has been made a security zone.'' Ecuador was last put in state of emergency in February 1997 during the chaotic final days of then-President Abdala Bucaram, who was fired by Congress for ''mental incompetence''. Before the emergency declaration, Finance Minister Ana Lucia Armijos sought to reassure markets that Mahuad would announce economic emergency measures Thursday. ''These are measures on the fiscal side which have to be adopted to face the crisis,'' she told reporters, calling it the worst crisis Ecuador had faced in 50 years. Ecuador's economy has been battered over the past year by some $2.6 billion in damage from El Nino storms and low prices for crude oil, one of its major exports. The situation has been aggravated by an international financial crisis which has crippled Latin America's largest economy, Brazil, and put the whole region under pressure. Armijos said one move being considered was an Argentine-style currency board to peg Ecuador's currency to the U.S. dollar. That measure, considered by other countries like Russia and Indonesia at the height of their own recent crises, would be a drastic move for the Andean nation of 12.2 million. ''It's an option we are considering. We haven't ruled it out,'' Armijos said, adding that her team had met with members of a private think-tank headed by Domingo Cavallo, the man behind Argentina's currency system called ''convertibility.'' Ecuadoreans flocked to withdraw their savings last week on persistent rumors that foreign currency bank accounts would be confiscated -- a move the government has repeatedly denied. Argentina confiscated dollar accounts a little over a year before it pegged its peso to the dollar in 1991. The panic pressured Ecuador's sucre currency to an all-time low against the dollar last week, lashing an already weak banking system and raising fears that Ecuador could default on $16 billion in foreign debt Mahuad's tough economic policies to deal with the crisis have been received badly by a majority of the Andean nation's citizens, 63 percent of whom live in poverty. ''Mahuad is the only one responsible for this crisis,'' said Fausto Dutan, head of the United Workers Front. ''There isn't anything to eat in this country.'' A political centrist and former mayor of the Andean mountain capital Quito, Mahuad took office last August. Fearing a military reprisal, oil workers said they would keep their strike plans secret. Electrical workers vowed to black out parts of Ecuador Thursday night. Analysts said Ecuador must quickly conclude negotiations with the International Monetary Fund to renegotiate $1.2 billion in debt if it wants to restore confidence.