Hondo, Infinito Gold don't have money or much of anything left, they just lost yet another mine and I don't think they have a chance in hell to get anything more than their $50.00 investment in Las Cristinas back from arbitration if that, they have already spent millions in the process I would think, this company is dead IMHO trading at its all time historical low $0.115, even IG pumper Auag1111 has turn off the light and disappeared
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_I/messagesview?bn=83523
Costa Rica court annuls Infinito Gold concession
Infinito Gold Ltd
IG.V
$0.11
+0.00+4.76%
12:00am EST
SAN JOSE, Costa Rica | Wed Nov 24, 2010 9:08pm EST
SAN JOSE, Costa Rica Nov 24 (Reuters) - A Costa Rican court annulled a gold mine concession held by Canadian miner Infinito Gold Ltd (IG.V) on Wednesday, saying the company's open-pit Crucitas mine was hurting the local environment.
"The existence of this damage has been proved during the case," said Judge Grace Loaiza.
The administrative court's decision comes after Costa Rica's Supreme Court ruled in April that the Crucitas project could move forward. After that ruling, environmentalists put together a new case to challenge the mine's legality.
Infinito Gold said through a spokesman it would appeal the administrative court's ruling.
Infinito has already sunk $127 million on infrastructure into Crucitas, which has an indicated resource of 1.2 million ounces.
Costa Rica prides itself on its lush forests, a tourist attraction for the country. Congress approved a bill this month, which President Laura Chinchilla is expected to sign into law, to prohibit all new open-pit metallic mines in the country.
The law is not retroactive and would not apply to Crucitas. (Reporting by Alex Leff; Editing by Gary Hill)
