something in this deal stinks to high heaven, and the more i think about it, the more i come back to the government of ecuador. it isn't just about patrick anderson and the board of directors selling us out, and deciding to take the money and run.

i look at major gold producers that have declining production profiles, and signed confidentiality agreements with aurelian, yet when the time comes, they are not the least bit interested in 20 million ounces of high-grade gold with lots of blue sky. you would think the fdn deposit has suddenly become radioactive, as no one will touch it. no one except for the ceo of a third-rate company, which by the way is about to become a first-rate company if he pulls this off.

then i see institutional investors who are presumably intelligent people. analysts and fund mangers who were making understated price projections of $20-25 suddenly roll over and tender their shares for $5. i haven't seen this many people vote against their own economic interest since george f. bush got elected president (and fwiw i voted against him twice, not that it mattered.)

so again i ask myself, what are the fund managers afraid of? unless the evil emperor tye burt really can use the force, or darth anderson has used a jedi mind trick, it can only be the government of ecuador. either the institutions are afraid of correa, or they are afraid of what comes after him, as there could be two or three new presidents by the time the fdn mine is built.

somehow correa and company have decided that kinross, and only kinross will be allowed to build the fdn mine. this is the only explanation that makes any sense to me. somehow tye burt has the connections not only to hang onto 75% of kupol, but also to do business in ecuador when no one else can.

if anyone can come up with an explanation as to why we're seeing what looks like a case of mass insanity on the part of everyone who tendered their shares, please let me know. as for me, i will fight this thing to the end. remember the words of john belushi in animal house when they told him it was over.

WAS IT OVER WHEN THE JAPANESE BOMBED PEARL HARBOR? HELL NO!