When you trade at .05 cents a share everything should count, or at least pray that it might help our sad sack of a company.
ps looks like another shareholder of old bit the dust today and has moved on hopefully to a happier place. 700,000 shares sold.
Argentina: Rio Negro heads up
Here’s a news story on something I’ve been quietly watching out for, because if it moves from
the drawing board into reality it makes a few also-ran explorecos into serious trade options.
Dated March 8th, this report (19) out of Argentine regional newspaper “Diario Ro Negro is
entitled “Ro Negro Wants To Be a Mining Province: “This is the moment to make this definitive
move.” That title line quotes the leader of the government bloc in Rio Negro provincial
parliament one Facundo Lpez, who led a three-cornered meeting between the local
government, the Energy Secretary and the Environment Secretary. The other sound bite quoted
by the report on the meeting was (translated):
“Ro Negro has all it takes to become a mining province, and we believe that this is the moment tro
move forward. If we give the sector the legal framework it requires, with special protection for the
environment and resources such as water, we are faced with the possibility of giving the Southern
Region the chance to incorporate an activity that generates a large quantity of job, development
and finances into its production matrix.”
This has been a long time coming, as Ro Negro has always been one of the more promising
provinces in Argentina geologically, but its politics have never been pro-mining and have often
taken cues from its Southern neighbour, the very anti-mining Chubt. But with the change in
direction at national level under President Milei and his provincial allies trying to leverage his
political advantage, we may finally see juniors and projects in this province get a break, the
laws and official backing and most importantly, permits to go about exploring, developing and
ultimately building mines.
Be clear, nothing has changed as yet in Ro Negro and we’re at proposal-stage only. Also, just
because this is proposed by the leader of the national government people in this province
doesn’t mean its opposition or those against mining development suddenly roll over and die,
allowing the immediate permitting and construction of a brave new mining world in the region.
Far from it, but there’s clearly a new wind blowing and in the great scheme, Ro Negro has
always been on the list of regions that might shift from an anti-mining (or at best ambivalent)
attitude typical to Chubut, Mendoza, Neuquen or Tierra del Fuego and toward the pro-mining
stance that has done well for Andean cordillera provinces such as Santa Cruz, San Juan, Salta
etc. If you like, Ro Negro is the most likely candidate to cross the floor and turn into
Argentina’s next pro-mining province and if that happens, there are some interesting cases to
study.