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9/1/16

Radius Gold (RDU.v) and classic mining company arrogance

This part of today's NR from Radius Gold (RDU.v) made me laugh. 

"Our Guatemala concession holdings at Banderas remain in good standing and the exploration potential on those properties is high, but with recent developments at Tambor, the new government's commitment to supporting the mining industry has yet to be proven."

The detail that makes it such fun? Tambor was never permitted and was operating illegally for years (in cahoots with the corrupt Otto Pérez Molina government) and against the wishes of the local population. That until earlier this year when the Guatemala courts ruled that it was indeed operating illegally and closed the mine down. But according to the arrogant twats at RDU, that a sovereign state country correctly applies its own laws to a rogue miner in a watertight legal case and ruling is evidence that its government doesn't support mining. Yet again, the Canadian mining industry's automatic assumption that its place is somewhere above the law shines through. Butter wouldn't melt in your mouths guys, yeah? And then you wonder in bafflement why you're so hated later on.