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White Rock, British Columbia (FSCwire) - Standard Tolling Corp. (TSX-V: TON, Frankfurt: GA0, “Standard Tolling” or the “Company”) announces that it has filed legal action with the District Attorney in the Department of La Libertad, Peru to prosecute the parties involved in the mindless destruction of Company property at the entrance of its gold plant on September 2, 2015. The damage was caused by a farmer, who convinced the local magistrate to issue a civil order against the Company for allegedly blocking a public access way, a completely untrue allegation. At the same time the civil order was issued, and against the instructions of the authorities, the perpetrator began destroying civil works and company property adjacent to the public road using two large front-end loaders. Although the authorities were present for the attack, they failed to uphold their duties as public officials and did nothing to stop the attack. Consequently, the Company will use the compelling evidence it has assembled to pursue financial restitution for all damages and lost business and will seek criminal charges through the integrity of the Peruvian judicial system. The Company has shared the matter with regional and central authorities, who support a higher standard for public officials.Other than the entrance, the processing plant was untouched. The economic loss to the Company’s investment was limited and the truck scale, being the most valuable piece of equipment damaged, only requires minor repair. In the meantime, portable scales are being used and ore purchase operations have re-commenced. The entrance and the tolling area of the plant have been redesigned and the truck scale will be moved to another area within the property.The Company appreciates the support of its employees during this ordeal. The Company will update its’ shareholders with any further developments.
UPDATE: Regular and mailpal MP writes...
I was thinking the exact same thing this morning. I wouldn't want to be a forced seller here, that is for sure. On the other hand, I believe that small-ish stink bids have a chance of getting filled thereby yielding incredible deals when things turn around. I'm certainly not chasing anything, though...
Capstone Mining's (CS.to) news release has the quote of the day. Bold-type by IKN:
Suspension of Santo Domingo ProjectCapstone will discontinue all work on its Santo Domingo project, and will downsize the Santiago and Diego de Almagro offices in Chile . The previously communicated 2015 budget of $19.4 million will be reduced by $2.4 million (including severance costs) on the basis of Capstone's 70% ownership. In 2016 and beyond, holding and community relations costs are expected to be in the range of $2 million annually on a 100% basis. Of the 31 employees at Santo Domingo , 23 positions are affected and a one-time restructuring charge of approximately $3.2 million on a 100% basis will be expensed in the third quarter."While we continue to believe that Santo Domingo is an excellent project, a number of factors, including uncertainty over the future direction of copper prices and our financing capacity for the project, make capital preservation a priority at this time," continued Mr. Pylot. "In this environment, we believe the most prudent course of action is to put the project and completion of the updated Feasibility Study on hold, while maintaining the optionality for future development when conditions improve."
...which means of course that TXG is never going to have any problems ever again with the local community around its Medi Luna mine in Guerrero, Mexico. None at all. Ever again.
When I visited, I could smell and even taste the pollution.The communities of Hippo Pool, Kakosa, Shimulala and Hellen say the Mushishima stream and the Kafue have become rivers of acid.Hundreds of villagers who claim copper mining operations in the area have poisoned their water source and destroyed farmland are taking Zambia's biggest copper mine, Vedanta Resources Plc, to court.Leaked documents, that the BBC has seen, appear to show that Vedanta Resources - through its Zambian based Konkola Copper Mines (KCM) - have been spilling sulphuric acid and other toxic chemicals into the water sources.A whistle-blower, who worked for 15 years with KCM, alleges that since Vedanta bought the mine in 2004, corners have been cut to save the costs of running operations.
Hey Otto;Just so you don't feel all alone in the misfortunes of the bullshit of the stock market.My Argentinian stockbroker in Miami, ended up declaring his firm with lack of liquidity, and therefore it's investors with some kind of equity left, cannot withdraw any funds, no matter if we've made money or we lost equity. The firm " has halted all trading operations due to lack of liquidity". Believe it or not the broker has pooled all the monies from all traders probably to make a living out of his operation.Just if you hear the name Ricardo Goldman, DaytradeYa! Or American Capital group LLC. in your cyberspace corner, you know what this scumbag has been doing all along, placing himself amongst the most respected traitors of the Latin investing community in Miami.I though this only happens in Banana Republics, but now let's see how the SEC reacts.He has had 2 previous violations with them , and still doing business as usual
Management and workers at the Media Luna mine have been held hostage since yesterday by inhabitants of the Nuevo Balsas community, Cocula municipality, who are protesting about the pollution generated by the Canadian company in the Balsas River.
But hey...don't worry 'bout it...your broker said there wouldn't be any more trouble there...probably nothing, right?
The quickest post (from the reserve laptop) to say that IKN is having a major problem with its Head Office computation machine. It may take a while to fix.
UPDATE: It's beginning to shape up: 12% of votes counted, here's a screenshot: