Well, that is one heck of an impressive posting for a new comer to this BB.

*** New poster, yes, but I've been following this story for over a year now, starting on that "other" board just after the original strike at FDN.

You seem to have a good grasp of what goes on down there in Ecuador, about Correa as a person, the political situation down there, and the issues with the latest reforms, etc. Whereas most of us are only familiar with the mining law aspect only. Thank you for filling us in on all the other interesting tidbits.

***Not a problem. Most of what I've learned comes from reading the Ecuadoran press. Spanish is my second language, so that helps some. I have some experience with Latin American politics as well, but most of that dates back to the 70's when I worked with refugees from such places as Nicaragua, El Salvador and Chile. Things have improved a great deal since then, and my political outlook has changed considerably since those naive days of my youth...lol!

What interested me most is your reference to the windfall tax to be negotiated on a case by case basis. In fact the very first thought that crossed my mind was that it is such a wide open opportunity for corruption. Image that if a Canadian Prime Minister can be had (allegedly anyway) for a meagre $300K, we can safely assume an Ecuadorian official is very affordable.

*** That part really stood out for me. Also the notion that Correa would intervene personally to settle disputes seems ludicrous. That's why you have laws and courts.

Ecuador does have a history of changing governments, I believe until Correa, the record was seven governments in 10 or 11 years? You obviously are more in tune than I do, but I am in the ball park. The point then is, under the worst case scenario, we can always wait out this government and see what the next government would do. I know, this does not guarantee improvements but the only other option is sell out and forget about Ecuador.

*** I don't know enough about Ecuador (yet) to judge whether such a transistion would be smooth. Like Mao said, Revolution is the kicking in of a rotten door. The system before Correa was rotten without a doubt. Banana Kings on bended knee, praying to Dios for an election win, people handing out stuff like computers and bags of rice to buy votes...etc. Seriously! It's a credit to the nation that they punted these clowns into the reds - I just hope (and I haven't given that up yet) that they're smart enough - the people, and the govt. both - not to drop the ball at a critical moment.

Most of us here have invested too much financially and emotionally into ARU at this juncture to just pull out. I, and perhaps a lot of us here as well, would at least wait to see how this windall tax issue plays out before any decision is made.

*** I'm in the same boat, which is why I posted. Knowledge dispels fear. I think most of the issues re. mining costs and potential takeovers have been discussed, so I thought I'd look at the political and social angles in more detail. As I mentioned, my wife and I have considered moving down there, given the favorable climate and all the good things I've heard from everyone who's been there. I don't like to think of it as "retirement" though. Far too young for that..lol! If we did move, I'd want to play some part, however small, in the nation's progress, and the mining sector seems like the place to be, at least I'm hoping it will be, once all this dust settles.

Thanks for keeping us informed.

*** No problem. Thanks to everyone here for a great board!

ebear