Potential near term catalysts -A 2012 Q4 / 2012 yearly profit (Would officially the first profitable year, but technically not)
“During the year ended December 31, 2011 the Company sold approximately 20,500 ounces of gold and 64,000 ounces of silver for gross proceeds of approximately $34.2 million. Currently, for accounting purposes until the project reaches commercial production, the sale of precious metals, net of production expenses, is credited to mine development costs and not recorded in the Company’s consolidated statements of operations.”
https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00014910&fileName=/csfsprod/data128/filings/01884872/00000001/i%3A%5CCL%5C7000%5C001%5CSEDAR%5CMDADEC2011.pdf
-Complete dewatering of the lower mine shafts allowing them to (finally) access the high grade gold veins
-A 2013 Q1 profit
-The passing of the revised mining law.
“A mining reform prepared by the government was ready in mid-November that could have cleared up several uncertain areas in the current legislation, with the application of maximum royalty rates and a more transparent concession cancellation process.
However, Ecuadorian Mining Chamber president Dr Santiago Yepez said the government did not want to damage its image in any way before the election in February."
https://www.miningnews.net/storyview.asp?storyid=795111806
-Kinross signing a mining agreement
“Under current arrangements with the government, the parties remain in the economic evaluation phase until August 1, 2013, during which time the objective is to reach agreement on the terms and conditions of both the exploitation and investment protection agreements.”
https://finance.yahoo.com/news/kinross-reports-2012-fourth-quarter-220000525.html