Clarification from Bolivia - Going to flyThis is the news from APE-T out this am.
Apogee discusses new mining policy with Bolivian agency
Apogee Minerals Ltd (C:APE)
Shares Issued 43,467,455
Last Close 10/17/2006 $0.55
Wednesday October 18 2006 - News Release
Mr. John Carlesso reports
APOGEE MEETS WITH BOLIVIAN STATE MINING AGENCY
Apogee Minerals Ltd. has consulted with its advisers and officers of Comibol, the Bolivian state mining agency, relating to the release of a new national mining policy, expected to be announced on Oct. 31, 2006.
Apogee has received reassurances that the new mining policy to be issued on Oct. 31 will have no effect on the security of private mining investment in the country. Apogee also understands that the government of Bolivia recognizes the benefit and necessity of foreign investment and the positive contribution to the economy that is generated by these investments. Additionally, in various press conferences this week, vice-president Alvaro Garcia Linera stated that, "Foreign and local private investments, with actual investments, which generate employment, will not be touched." Apogee understands that the fundamental elements of the draft proposal for a new mining code, previously issued by the Bolivian government, will remain intact (see news as reported in Stockwatch June 1, 2006).
Apogee president and chief executive officer John Carlesso stated: "We expect to continue to have the ability to operate our producing silver-zinc mine and carry out our exploration activities at our high-grade silver projects in Bolivia. We are continuing with our objectives of producing a new business plan for the La Solucion mine and generating an NI 43-101 compliant resource estimate at the Paca open-pit project by year-end."