Re: So what does all this mean.......
in response to
by
posted on
Apr 18, 2008 01:14PM
The company whose shareholders were better than its management
I hate to start off with this: someone robbed us of another $0.10 in SP in after hour. We now closed at $5.04, not $5.14 - speaking of robbing the dead!
Anyway, I have no answer to any of your questions. What I do know is that Ecuador has effectively killed its mining industry today. What the left wing radicals wanted all along is no mining at all. They have accomplished that. I could not get my mind around on the 180 days, or what would the 3 concessions per companiy serve?
Now I know what it means, they have successfully destroyed the mining investors' confidence. There will be no mining for sure, they will keep putting up road blocks one after the other to make sure of that. Even if that is eventually tolerated, it would be of such small scale (3 concessions per company) that ARU would be barely panning for gold like the old days.
It will be a long wait - for the next government in Ecuador before we can hope to recover the last two days' losses. Perhaps after clarification, there will be another round of selloff on Monday since all hope for recovery is killed.
Hate to tell "Weiner Boy" and friends that the cheap shares they tried so hard to steal and accumulate are now even cheaper.
By the way what happened to that "stability agreement", or whatever that is supposed to be in retrospect?