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Re: EquityTrader post# 20454

Sunday, 11/13/2011 8:00:38 PM

Sunday, November 13, 2011 8:00:38 PM

Post# of 60120

We get exploratory news and SUGO will be headed to $.10+ ...if it takes time to move things forward we'll continue to drift and possibly drift downward until we get exploratory news.



Conglomerate Mesa has already been test drilled and they know there is gold there so that is not any new news!

Without the funds and permits to develop the mine, SUGO is worth nothing. And the fight for those permits could easily take 5+ yrs!

Here is an example of the battle for permits to develop an open pit mine exactly like SUGO wants to do.

Forest Service says Rosemont Mine could impact environment

http://www.wtol.com/story/15691061/forest-service-says-rosemont-mine-could-impact-environment

August Resources hired union workers to attend the public hearing on the mine!

Supporters Pack Rosemont Copper Mine Meeting
Updated: Sunday, 13 Nov 2011, 3:44 PM MST

TUCSON, Ariz. (AP) — Supporters of a copper mine in the Santa Rita Mountains southeast of Tucson packed the first of a series of public meetings on the mine's environmental report.

The Arizona Daily Star reports about a half-dozen opponents of the Rosemont Mine were drowned out by nearly 50 speakers in favor.

Rosemont Copper organized the proponents, who argued that the jobs the mine would create and the copper it would supply far outstripped environmental concerns.

A group called Save the Scenic Santa Ritas has spent five years fighting the project.

President Gayle Hartmann dismissed Saturday's session as "a pep rally," instead of a serious discussion of the report.

The U.S. Forest Service says the mine could violate ground-water and air-quality rules, but recommends approval.

There are 5 more public hearings scheduled into Jan.

U.S. Rep. Raúl Grijalva Wants Brakes Put on Proposed Copper Mine

Raul Grijalva has asked Agriculture Secretary Tom Vilsack to suspend U.S. Forest Service hearings on the proposed Rosemont Copper mine and start over.

The Arizona lawmaker says the agency appears to be rushing ahead to please Rosemont.

In a letter dated Tuesday, the Tucson congressman says last Saturday's scheduled hearing at a local casino violated a federal regulation because it was to take place just eight days after the lengthy Draft Environmental Impact Statement was made public. That hearing has been postponed.

The Green Valley News reports the congressman said the current public comment period for the DEIS should be suspended and a new public information process should be redesigned without Rosemont's involvement.

SUGO does not have the funds or resources for a 5 yr. permit battle!




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