History repeats itselfUnfortunately, those that do not know history will repeat it. Mr. Paul Wright of ELD claims he is surprised at the action of the Greek Govt..He should not have been!!! Sadly there is a clear and direct precedent. TVX Corp. in the 80's had the mining licence to develop the Greek mining properties. TVX had major backing from the European Development Bank to the tune of hundreds of millions of dollars.At the time the scuttlebut was there was no evidence of old Greek bones in the ground, but that it was a ruse to try and get paid an apropriate bribe for the alive local notables. The then Govt of Greece eventually put a kibosh into the project after TVX had spent considerrable sums using the same ruse because the properties were supposedly disturbing the remains of a distant Greek notable.. I forget, it was either the remains of Archimedes or Aristotle. After that TVX disappeared from the scene. The president of TVX at the time was Eike Batista, a Brazilian enterpreneur, who eventualy became the wealthiest Brazilian worth billions of dollars by developing gold and oil properties in Brazil. Eike subsequently flamed out into pauper status as he lost all his holdings which had overstated assets and a lot of debt. There is nothing as efficient as a margin call on overvalued assets to put you out of business. History provided a bargain here.. 2 for 1. The message was clear if only one studied history!! ELD's management should take note.
Maldoror