I'm just happy that one of the big 8 in Ecuador is announcing drilling results.....a few days before the potential unveiling of the draft mining law nonetheless. The timing is peculiar.

Here's the clue, contained in the same NR:

Antabamba Project, Peru
The Antabamba silver-gold propert y is located in southern Peru, approximately 65km northeast of the Pallancata silver mine, jointly owned by IMZ (40%) and Hochschild Mining plc (60%). Based on a thorough evaluation of the drill results from the last core drilling program, carried out in October 2007, IMZ has decided to return the Antabamba property to its joint venture partner and property owner, the Peruvian subsidiary of Barrick Gold Corporation. IMZ’s drilling program identified high-grade, but narrow, mineralized zones (shoots) within the known veins on the property and management considers that the overall potential to develop significant tonnage and ounces is limited.

ie: Bury the bad news in a good news release, and get it out of the way before the mining draft appears. They probably have more results pending.

Just for reference, here's part of their original comments on the mining mandate, from an Apr 22nd NR:

Commenting on this mining mandate, President and Chief Executive Officer Stephen J. Kay said, “IMZ has been actively exploring and investing in Ecuador for the past 15 years and we currently employ well over 400 full-time and part-time Ecuadorians. We, and the other mining companies in Ecuador, are urgently seeking clarification from the government as to the impact of this mining mandate on our operations and the overall future of the mining industry in Ecuador. All of the long-standing companies in Ecuador are committed to developing a responsible, stable and fair mining industry, respecting the rights of the Ecuadorian government, its people and the environment, in order to contribute to the future growth of the Ecuadorian economy. We are confident that economics will prevail over complex political issues.”

ebear