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8/17/16

Regarding MiningWatch Canada's attack on Ecuador mining projects yesterday

The NR is here, the interesting things are:

Their chosen targets are INV Metals (INV.to) and its Loma Larga project, then China's Junefield Mineral Resources and its Rio Blanco project (that just got the green light for development).

The INV.to opposition comes just after publication of the recent 43-101 compliant updated pre-feas that saw the stock bump up and over $1. It's dropped back since then. It also comes in the prelude period before a scheduled referendum vote in the locality, where the locals will be asked to vote for or against approval of the project.

And yes, this is the same project that used to be called Quimsacocha and owned by IAMGOLD (IAG.to) (IMG), the one that was ruined by Fire Steve Letwin due to his heavy-handed and arrogant way with the local community.

Against INV.to, MiningWatch and the Ecuador campaigners who have sent an official protest letter to the Ecuador government refer to a technical report authored by Jim Kuipers of Kuipers and Associates. Kuipers is no lightweight, as recognized by one of your author's industry mailpals, a highly experienced mining engineer who called him "a formidable opponent" and "the scourge of miners throughout the Americas".

Neither MiningWatch nor the Ecuador campaign groups make mention of Lundin Gold (LUG.to) at Fruta del Norte. Either they've given up trying to oppose that one or they're impressed with the way LUG has gone about its business (fwiw, I agree with that second one).