What's to panic about?

The key is , as you say, what the future base price for gold is set at.

If it's something in the order of $900/$1000 so what?

Ecuador is a country in need

If gold never surpassed that level Ecuador and it's people would never enjoy the bonus profits. That's the gamble they are taking.

They take a small royalty of 3-5% up to that level, then a bonus kicks in. After huge profits are made by the company. Them and only then, do bonus profits kick in for the people.

Why should an oil company or miner enjoy windfall profits alone...at these levels, The cost of the mine, extraction, and profits have already been made, I think it's only fair that something good comes back to the people of Ecuador. 

JMHO

safeharbour