The fact that Newcrest and Conerstone wrapped up a small exploratory drilling program has less to do with their overall relationship than several other straightforward business reasons.
1) Geography - Cana Brava is in south-central Ecuador. Poor Ecuador now realizes it sits on an embarrassment of riches - DOZENS of VERY LARGE copper - gold porphyry deposits in one of the LAST ecologically PRISTINE and eco-friendly TOURIST DESTINATIONS left on this planet.
Llurimagua and Cascabel are BY THEMSELVES big enough to possibly add 20% to the country's wealth for the NEXT 100 YEARS!
In a word, Cana Brava is collateral damage.
2) Future Newcrest Profits in Ecuador - Newcrest management is IMO the savviest, most sensitive mining team in the world today. For example, without moving a POUND OF DIRT, the company is possibly making more money with less risk from Lundin Gold than........
THE LUNDIN FAMILY!!
Cornerstone represents
A VERY LARGE CRITICAL COMPONENT OF NEWCREST'S STRATEGY IN ECUADOR.
3) Infrastructure - Ecuador needs to balance its need for export money with its desire to properly steward itd environment.
IT WILL NOT REPEAT THE MISTAKES MADE BY ITS NEIGHBORS, PERU and CHILE.
This Cana Brava news was utterly predictable and has
ZERO
Bearing on Cornerstone's value to the public
Or to Newcrest.
We c......
JMHO DYODD