Galway Resources Ltd V.GWY

RE: RE: RE: RE: Greystar Important

[Aurun]

I could see the results having an "Industry Area Positive Affect" on GWY, but in reality, I didn't think the elevation legislation has any direct effect against GWY.  If you recall, back in April, there was a negative short term effect on GWY due to the news, but then GWY put out a NR stating the following:

April 28, 2010 Galway Expects No Impact from New Colombian Mining Law on its Colombian Projects

Toronto, Ontario: April 28, 2010 - Galway Resources Ltd. (GWY: TSX-V) is pleased to report that it is the Company's opinion that reform of the existing Mining Code, Law 1382, which requires that mining and exploration activity be excluded from the Paramo ecosystem, does not affect its California properties located adjacent to and along strike Ventana's La Mascota property. Galway's California concessions are below the 3,200 meter elevation in which the Paramo ecosystem exist and the Company's exploration efforts are taking place in areas no higher than 2,500 meters above sea level. Galway is operating its three projects in Colombia under approved environmental management plans. "We look forward to continuing to comply with local and international standards in the advancement of our projects. From a policy standpoint, we do not see any issues that will impede the progress of moving our mining projects forward, most specifically our gold projects in the California and Vetas gold districts of Colombia," cites Robert Hinchcliffe, President and CEO of Galway Resources.