News Focus
News Focus
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20nout

04/11/13 4:08 PM

#7398 RE: rotor1 #7397

goldman at work
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20nout

04/11/13 4:13 PM

#7399 RE: rotor1 #7397

abx a buy at 22.00
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rotor1

04/11/13 4:14 PM

#7400 RE: rotor1 #7397

Look what happened to IAG

in January - massive increase in costs = same problem I've just mentioned, how or why did management let things go this far adrift



so all the bullish articles are from some analyst who probably doesn't know one end of a mineshaft from the other.
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jumanji0881

04/11/13 4:20 PM

#7401 RE: rotor1 #7397

Yep, but Pascua Lama is a huge project which is now in doubt and has to get approval from the courts which could take months.

UPDATE 2-Chile court suspends Barrick's Pascua-Lama project : http://www.reuters.com/article/2013/04/10/chile-barrick-pascualama-idUSL2N0CX0II20130410
Excerpt:
SANTIAGO, April 10 (Reuters) - A Chilean court has suspended the construction of Barrick Gold Corp's $8.5 billion Pascua-Lama gold and silver mine after indigenous communities said the project was destroying glaciers and harming water supply.
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rotor1

04/12/13 12:24 PM

#7427 RE: rotor1 #7397

ABX - what were they thinking

with the press relese that the Argentinian side was up and running well, both side of Pascua Lama are joined at the hip, one half can't operate without the other

'Responding to mail inquiries, the latest on Pascua Lama is that Julio César Martínez, a member of the national congress representing the UCR "Radicales" party* for the province of Rioja is calling for construction to be halted on the Argentina side of the project as well.

"The passivity of the control organizations in San Juan province and the national government is striking, as well as that of the Argentine judiciary", he said, continuing, "this project should never have been permitted in its location because it's in the San Guillermo national nature reserve and what's more in a zone of permanent ice, permafreeze protected by the Glaciar Law."

Said Martinez, "The water used is basically from the Argentina side, the minerals are to a great extent on the Chilean side, therefore it's a bi-national project that if halted on one side has to be halted on both sides."

interesting conundrum after spending so much