At March 31, 2007, the SIL liability associated with the derivative positions was fiat$709.9 million - doesn't matter in comparison? -
to SIL - Mission - and the very positive reassurance statements - from the Bolivian Government -
Bolivian President Evo Morales issued a Supreme Decree - on May 1, 2007 declaring a Mining Fiscal Reserve - over the entire national territory - to include all mineral resources - granting the Bolivian Mining Corporation (COMIBOL) - the authority and right to administer and exploit - the Fiscal Reserve.
The Supreme Decree provides that mining concessions granted prior to enacting the Supreme Decree - which expressly declares that all mining concessions granted in the past, prior to this legal disposition, are going to be honored and respected.
Decree 29117 has four articles:
Article 1: Declares a National Mining Reserve for all national territory, granting to the Corporacion Minera de Bolivia (COMIBOL) all power for its exploitation and management. It expressly declares that all mining concessions granted in the past, prior to this legal disposition, are going to be honored and respected.
Article 2: Prohibits the granting of any other new mining concessions whatsoever and establishes that any request for concessions, even those that have started their filings shall not be granted.
Article 3: Establishes that the Servicio Geologico Tecnico Minero ("Sergeotecmin"), which is a technical mining organization of the government, will not be able to enter any new mining agreements without prior authorization from the government.
Following the completion of studies and approval by Sergeotecmin, prospective areas can be explored by third parties through signed agreements with COMIBOL.
Article 4: Establishes that areas of the National Mining Reserve might be partial or totally removed from that Reserve after Sergeotecmin has finished studies to be carried out on behalf of the Bolivian government.
I think, The Supreme Decree - has been the most positive fundamental basic - for SIL shares increased appr. $6/sh since May 1st -
is adding appr. fiat$350 million in market value to the Apex Silver - SIL shares values -
and Silver investors will find - Franklin Mining FMNJ - Cerro Rico mines etc. FMNJ - Mission - Imo. Tia. God Bless http://tinyurl.com/y54k7r
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