Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten
The company whose shareholders were better than its management
Message: From Marla......
Yes we are busy but there is a bit more to it than that. The reality is that there is just not as much to report on a day to day basis now that we have reduced our operations so frequent requests for updates don’t make as much sense. In addition, some of the information that you and others ask for I can’t provide because it is sensitive. Yes, we were involved with the meetings with the Canadian delegation. Our government is being very diligent and the Ecuadorian government is demonstrating that it understands the seriousness of the situation and a need for a solution as soon as possible. What we have seen of the draft mining law is reasonable. There are some points on which the mining companies have suggested that the government may want to revisit their approach. For example, the spending requirement per hectare on exploration is at the high end of international norms. Aurelian would have no problem meeting it but it would be a challenge for some more junior companies. For the long term growth of their mining industry, it would be better to have a somewhat lower requirement. They are continuing to work with the Chileans closely and have been holding the weekly consultation sessions with companies and communities, so the process is moving ahead well. It appears that sometime later in June they will have a revised draft law ready to go to the President (that draft will also be made public). It is still not clear how or when the law will be passed. The timeline for dissolution of the Assembly is now late July so if it is passed after that (but before the election late in the year) it will be done by the Congresillo, which is a smaller temporary legislative body that it appears will be appointed by the President’s office. There is still a lot of uncertainty because of the many political distractions for the government over the next six months. We have a senior member of the management team down in Ecuador pretty much every week and that is the case this week as well. I can’t tell you who it is though. I hope that you have a great day,
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