Goodbye El Dorado.Below is the link to a worthwhile article on environment vs mining that features the plight of OGC. Since El Salvador has now banned all exploration and mining, it would appear that OceanaGold’s el Dorado project has no value. That El Salvador decision explains why OGC has removed El Dorado resources from its mineral inventory.
The article implies that OGC may encounter the same situation in the Philippines. I doubt that. There are differences. First, El Salvador has no existing mines whereas the Philippines has many. Second, OGC operates under a well-defined Financial or Technical Assistance exploration agreement that has the force of law. Third, OGC is one of the few mines that has just received only a suspension order that has minor issues. Fourth, President Duterte has stated that he could accept mining if it adheres to Canadian or Australian mining standards. I believe Didipio meets those standards.
https://wwwx3.royalbank.com/rbc/investing/quotes/companyNews.asp?docKey=355-L5N1HD3FI-1&sourceID=RTRIDS&headline=COLUMN-The%20green%20revolution%3B%20a%20double-edged%20sword%20for%20metal%20markets%3A%20Andy%20Home&docDate=2017-04-05%2013:01:38&symbol=OGC&country=CA