Peru Better than ArgentinaOur financial destiny is based on politics. The USA can't come to any type of firm agreement as to stimulus, Peru was worried about Humalla which is a non-event now, and now Argentina is making there own political waves with mining laws.
It will be nice to see who gets taken out shortly..... but it is clear...there is no clear cut choice.
Very low volume these days.
Still betting on DNT.
GMC
https://www.mining.com/tag/argentina/
In a move that seems certain to slow foreign investment, the government of Argentinian President Fernandez de Kirchner has passed a law requiring oil, gas and mining companies to repatriate future export revenue.
The Vancouver Sun reports: “President Cristina Fernandez de Kirchner, in her first move since being re-elected Oct. 23, changed a 2002 decree requiring companies such as Repsol YPF SA, Total SA, Petroleo Brasileiro SA and Pan American Energy LLC to to keep at least 30 percent of their export revenue in the country.”
Effective immediately, resource companies will have to repatriate (convert into pesos) all of their export revenues.
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Extorre Gold Mines Limited (TSX:XG) (NYSE Amex:XG) (FRANKFURT:E1R) (“Extorre” or the “Company”) wishes to inform shareholders of the events in Argentina that led to today’s drop in its share price.