This is very promising positive news, but who is right?
IMG says mining code out before end of August but in other articles it has been dated after referendum vote. The actual release date of the mining law will be very important to the timing of this buy out offer. If anyone has more supporting news of the exact date, please post.
My understanding is that the vote will occur in Oct., but they can release the draft any time they want.
This seems to contradict what Chiriboga said in the following:
QUITO, July 25 (Reuters)
Chiriboga said a long-awaited mining law that will lift the ban is expected to be introduced after September when Ecuadoreans vote on a new constitution that would boost Correa's control over the country's natural resources.
http://www.agoracom.com/ir/Aurelian/...
Am I comprehending it incorrectly. Is Chiriboga saying the mining law wont be in effect (passed by legislative) until after September, but they will release for public viewing before end of August?
Anyone have more clear insight on this as I feel the release date of mining law very important to our buyout situation at the moment.
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Let's be really clear about this, OK? We've already seen the mining law. It was released in draft form a while back and we all read it. It raised a few questions, but it contained no big surprises. Now, do you think it's changed substantially since then, or have they simply tightened up the language and brushed off the fluff from the copy machine?
Forget the mining law. The real issue here is why are they giving Aurelian away at such an absurdly low price when they don't have to?
Everything that Ecuador's done so far in terms of asset seizures and forfeitures was them taking back stuff that was either stolen from them, or sold for a pittance by the former corrupt regime. Their methods may have been hamfisted, but anyone who's studied the situation knows this is true. Aurelian wasn't stolen from them, so they've no reason to take it back.
Fears of losing Aurelian are just tales told to frighten small children and uninformed investors.
ebear
