Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hello Zoros always good to talk, I have no chateau tap, sorry about that post, however if you read my next post, I did correct it. Keep up old man.
Hi BN.c
Doing good.
Seems to have been a lovely day on the boards.
How's you and yours
Hi Newtoit
I'll talk to u matey.
How we diddlin?
BN c
hi zoros, us 50-somethings aint old thank you very much lol ;D
Quady, you're getting senile. Look at what you posted at 1251:
"....Zoros, you really must start listening to the webinars, this was covered a long time ago. Yes ENSA includes the environmental permits, and just as important the water permits. If you remember in the presentations, we took ages to get the water rights. But this was resolved some time ago. Again please listen to future presentations, much better, to listen to them, than comment on the comments on this chatroom..."
WTF does any of this have to do with what I had posted? I was talking about Cornerstone and their woes (environmental licences etc). Where have I mentioned solg having licencing problems?
You constantly re-iterate that I need to watch the same effing webinars over and over and over again. Which webinar talks about cornerstone operating illegally - I'll watch that one, just for you.
Stop drinking your Chateau Tap and concentrate for a little longer than 1 Parsec. xx
C'mon I know your old but you haven't quite lost it have you?
Hello
Anyone talking to me?
please !!!! pretty please
Tos
Some of it has been quite skilfully played by paid bashers there is no doubt of this.
To spread fear distrust doubt etc and keep the SP surpressed.
Others use another tactic to cause.disruption arguments get under the skin of genuine folks to clog the discussion board with arguing etc.and detract from what the board.is supposed to be used for, discussion about the share and things that affect it.
I'm also sure they get paid by the no if posts.and replies on such threads too......
It's all pretty terrible tbh but needs to be seen for what it is.
Anyways great stuff Quady n Cooperpot and Earthling I see too we're.kinda.learming albeit the hard way.....
Atb
BN.c
Most of you have been engaging with them for weeks lol
Yet it’s against you’re rules lols
Glad the penny has dropped, took me a while also to realise it’s fruitless.
Yeah, agree with you all... last nights poster just seemed fishy to me, very similar style and phrasing to previous iterations of the same person I suspected, so I too just elected to completely ignore them. Became obvious I was right to do so. I just can’t help wondering about why they do it, or what they get from it. Possible mental health issues perhaps, so best to avoid confrontation. A definite case of more to be pitied than scorned. Must be difficult for the administrators, but restricting a new poster to one or two posts a day for a short while might help.
Hi Quady/BNC , excellent work chaps. I have to admit it, I once replied to all the rubbish and got involved far more than I should have done. Then one day the penny dropped....I realised that I was just as bad as they were! The filter button is a fantastic tool. The only problem is that after filtering someone you still see all the cr ap replies to them :-(
Good luck.
Hi BNC, not responding to these idiot's any more, took me a long time to learn. But the lesson has been learnt and it has sunk in. I will in fact not be responding to new posters that come on line, plenty of others to do that. They will need to be here a period of time, before I comment, in order to give me some time to assess them. All the best.
Pssst
Well done Quady on the filter button.
I reported all the abuse last night but refused to engage.
I've laid it on the line with admin again re this serial obnoxious poster returning under numerous name tags.... however their track record re this bs is v poor so no doubt it'll be back again with the same cr-ap.
Ignoring is definitely the best policy.
To think.some believe that this nonsense should be allowed to carry on......I hope they're seeing why we object to it and that the aforementioned are without doubt only around to cause trouble.....I hope their respective.eyes have now been opened to this bs.
Atvb
BN.c
Zoros, you really must start listening to the webinars, this was covered a long time ago. Yes ENSA includes the environmental permits, and just as important the water permits. If you remember in the presentations, we took ages to get the water rights. But this was resolved some time ago. Again please listen to future presentations, much better, to listen to them, than comment on the comments on this chatroom.
CGP basically only have one thing of interest to SOLG, or any other potential suitor, and that's their share of Cascabel. Los Cedros can be relinquished if necessary.
My apologies Ice - ENSA it is, not enami. Thank you for that.
Maybe that is why Cornerstone is a poison chalice to bidders other than SOLG - because of the precarious position they hold in Los Cedros?
Agreed on both points and in this case I think the rewards clearly outweigh the risk and that is why the majors will be coming into Ecuador bigtime. However, it is a higher risk jurisdiction that only has a nascent mining industry and therefore the global majors need to come in carefully and at a slower pace, rather than just piling in willy nilly. Contrast that to Haverion where it's basically right next door to an established facility (Telfer) in a country with a long history of mining.
As you say addicknt, it's been a slow process, but Solg in particular have inched towards certainty, making sure to do everything possible to keep within the rules and keep locals and protesters happy along the way.
There was some discussion a couple of days ago about the upcoming election and the political risk to the mining industry in general. Also agree with you there addicknt. Do governments of all stripes in most countries desperately crave money and jobs for their citizens? Yes. Will mining in Ecuador provide both money to the government and jobs? Yes. Will any government that isn't totally bonkers want to row back on mining? No.
In agreement addicknt, it's a well known and defined risk. We have all looked at it. As you say not only require mining for the tax take, but to attract a wealth of other companies into the country. They cannot punish mining with punitive taxes, otherwise no one, will have the confidence to invest. Ecuador needs jobs, and to spread the tax tax. All the best.
Solg have an 85% share in ensa not enami.....so your talking BS as usual.
Hospitals, schools, new roads, jobs are suffering right now and in particular Ecuador ......
Tree huggers need to get real!
A quote from the link:
"... Meanwhile the mining company Cornerstone Capital Resources, despite overwhelming opposition in the region, continued exploration within the protected area, in direct contravention of the court order and without the appropriate permits..."
And a quote from the Ecuadorian Government:
"...In Ecuador, there are various areas that are considered protected, mainly for environmental conservation. The referendum held in February 2018 amends the Constitution and establishes that the extraction of non-renewable resources, including logging, in protected areas and urban areas is prohibited under any circumstance.
Notwithstanding the above, it is important to clarify that within protected forests mining activities can be carried out once an environmental authorisation has been obtained. The specific environmental authorisation will depend on the mining phase of the concession...."
Is Cornerstone acting illegally then? Do they have an environmental authorisation?
How does this sit with SOLG having an 85% share in ENAMI?
We've been living with the political risk factor since Day 1 and, although it's been a slow process, we have inched towards greater certainty.
The parlous economic situation of Equador, which will not change, has only one solution - mining. It has nothing else going for it. (tourism is nowhere near sufficient) Ironically, this imperative will provide a more stable background and has been referred to endlessly by the government.
When a country's back is up against the wall and has a readily available solution, does anyone really think they won't take it?
There can be just as much red tape in developed countries as there is in Ecuador. If the proposed mine is in an area where there are very few people living and it is not designated protected (for whatever reason), then permitting is likely to go smoothly regardless of the country. If there are plenty of people living there/in the vicinity and/or it's a protected area then there will be problems be it Australia or Ecuador. Admittedly, the corruption side of things is undoubtedly better in Australia, you would have thought.
RCGL2 - you talk absolute sense!
Good to see the wood for the trees!
Z
I think the relevance of the court case to us is that it demonstrates why jurisdictions such as Ecuador present more risk than jurisdictions such as Australia where the rule of law is taken as a given and companies can have faith in the fairness of the legal system.
If you read the quotes from the Constitutional Court they seem to have already decided what judgment they are going to make before hearing the case: "...the Constitutional Court of Ecuador, agreed to hear the ENAMI appeal, saying that it hoped to set a precedent concerning mining in Protected Forests using the Rights of Nature. The Court specifically cited the biodiversity at Los Cedros, and the presence of the last populations of the spider monkey, as well as the endangered Andean (spectacled) bear."
Solgs concessions may not be in protected areas, but it shows that judicial activism can be a real issue in these jurisdictions even if you have government support. As I said the other day, when people were wondering why GGP was surging and SOLG isn't, 1) at Haveiron they have a clear route to production with NCM at Telfer, and 2) it's in Australia.
I recall at the time this issue raised its head - was it last year, or the year before?, I forget, I did a lot of digging around on the topic, even going so far as to ask an old friend who has responsibility for the issue at the World Bank.
It was really difficult to get any definitive answers until, after sending three or four emails to the company, they finally stated that none of the key concessions were in protected areas. They followed this up with a single sentence in one of the corporate updates.
I still don't know why they were reluctant to clarify the point, but the fact is they eventually did.
I am content that we are unaffected by the protected status question.