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ECUADOR GOLD AND COPPER CORP V.EGX

"Ecuador Gold and Copper Corp is a mineral exploration, mining and development company. The Company acquires and explores gold mineral rights located in Ecuador."


TSXV:EGX - Post by User

Post by shiftmanon Apr 10, 2014 8:18am
167 Views
Post# 22433863

Ecuador is the problem

Ecuador is the problemKinross faced the same problem. The mining tax is so high you can't make a profit, you can mine make a living, the CEO will get a great paycheck, the directors will get a great paycheck, workers will get a share of the profits. Ecuador will share the profit. This is great except the investors who tyed up their hard earned cash to build the mine will get next to nothing. The company has other deposits try and sell these to any large mining company who are faced with the problem K was. So in other words you can discover millions of ozs of gold that has no value only to a small company and RC because it cannot be sold for a premium to any large company because they can't mine in Ecuador and make a profit for the shareholder. If a change of Government occurs could they lose the mine it is very possible. You have the problem with the indigenous people( tribes )to deal with.
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