RE: RE: Valuation: Ventana = 1,5 B$ versus EOM = 0 as far as i know the Eco Oro plan right from the start was for a large open pit operation and they have fought the government on this issue by pretty much demanding that they decide how it will be mined. One thing I know is that when you sub-divide a big pit into different sections by dis-allowing the permit for a big portion of it you end up with a significantly smaller pit and not just as a ratio of the land area. From the side it looks like this decision will completely destroy the open pit idea and this will affect the resource cut-off grade substantially. Unless Eco Oro can get their lawyers to jump through hoops Greystar (oops, Eco Oro) will have a much smaller reserve then they had before. Much smaller.
I think Ventana is planning an underground operation and this has the benefit of significantly reduced tailings area and a much smaller surface foot-print regardless of whether or not it's in the paramo.
It isn't just about ounces of gold. It is about making a plan that has real opportunity of being permitted or not. Eco Oro should have toned down their arrogance right from the start. Maybe the ex-executive have figured this out but given their personalities I doubt it.