Re: If the offer fails?
in response to
by
posted on
Aug 07, 2008 12:48PM
The company whose shareholders were better than its management
"They drafted the mandate without even consulting the ministry of mining and petroleum. "
That's true
It's also true that the MInistry of Mining and Petroleum drafted the new mining laws in their entirety
and that supercedes the mandate
and that is mining friendly
and if the offer fails and there are no other bids
we'll mine the bloody thing ourselves
safeharbour
It's also true that the mandate took back concessions which were granted under very questionable circumstances to friends and family of the former regime. That was the whole point of it, as anyone living in Ecuador would know.
Those concessions are now in state hands (where they belong) and available to be bid on by credible explorers.
Gentlemen, start your drill rigs!
ebear