MercoPress. South Atlantic News Agency
Green light for gold and silver mine project in Patagonia Santa Cruz province
Gold miner Minera IRL Ltd reports it has secured government permits to build its Don Nicolas pit mine in Argentine Patagonia and is now seeking financing to get the 57 million dollars project up and running next year, the company said on Wednesday. Read full article
Comments
Disclaimer & comment rulesThat should improve the chances of Santa Cruz provincial government paying it's civil servants.
Oct 18th, 2012 - 04:09 pm - Link - Report abuse 0No wonder the authorization was hurried through!!!!!!!!
Will Argentina ever change their monetary currency from paper money to gold coins, it will beat inflation by a mile and boost international investments. All investors around the world love to shelter their capital in gold during bad economies times.
Oct 18th, 2012 - 06:37 pm - Link - Report abuse 0We hope the gold doesn't fly out of the country as fast as the dollar does and if it did we hope it pays Argentina royalties before it leaves the country.
http://m.youtube.com/?reload=3&rdm=mc3dk82gc#/watch?feature=plpp&v=J3SU9qUAkSg
http://m.youtube.com/?reload=3&rdm=mc3dk82gc#/watch?feature=plpp&v=J3SU9qUAkSg
Assuming the ounces stated are Troy (the internationally recognised BRITISH weight used in precious metal transactions) the gross yield to the closure of the first winning at the current gold price will be approximately USD 289 million in gold and USD 6.7 million in silver, so say USD 295 million. LESS the operational and restitutional costs and of course taxes and pocket money for TMBOA.
Oct 18th, 2012 - 10:00 pm - Link - Report abuse 0If the stated weights are pharmaceutical (chemists weight) the gross will be reduced by 8.36% in each case, say USD 292.5 million.
The gross profits might sound a lot of money but given the risks of AG thieving the entire company when it is operational and hitting its target yields (and that is NOT guaranteed) it is not really a very attractive proposition for the individual investor.
http://www.lanacion.com.ar/1518471-diputados-bonaerenses-dieron-media-sancion-al-proyecto-que-preve-que-los-countries-cedan-tierras
Oct 19th, 2012 - 02:58 am - Link - Report abuse 0hehe, the government and La Campora are going to crab some private land from 'wealthier' people in the province of Buenos Aires. They have to give 10% of their residential land to La Campora if the law passes.
So people, don't invest in Argentina!
@4
Oct 19th, 2012 - 09:27 am - Link - Report abuse 0WTF, how can this happen?
5 Welsh Wizard (#)
Oct 19th, 2012 - 04:35 pm - Link - Report abuse 0Oct 19th, 2012 - 09:27 am
Anything can happen here, even the most unlikely event is quite normal!!!!!!!
Communism edges closer in BsAs.
Oct 19th, 2012 - 05:06 pm - Link - Report abuse 0La Nacion (extracts)
The proposal provides for the delivery of ten percent of the land in each real estate development and introduces tax changes by increasing the tax burden on home improvements, vacant lots and to expand the possibilities of access to credit for the most disadvantaged.
Gated communities, located in the province; must deliver 10 percent of their land for social housing plans.
Critics claim it “affects individual freedoms and violates the Constitution,”
It was passed by The Chamber of Deputies of the Province of Buenos Aires last night, by the necessary 2/3 of the vote.
Santa Cruz & Chubut really belong to us. We were there long, long before Argentina.
Oct 21st, 2012 - 07:37 am - Link - Report abuse 0We should “recover” this gold ;-)))))
@8 Isolde
Oct 21st, 2012 - 03:26 pm - Link - Report abuse 0Ladies first, you only want it for new earings! LOL
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