Eastern Company EML

more on Ecuador......

[permaflation]

Ecuador Land Grab? Not Quite By Louis James 14 Nov 2007 at 01:30 PM GMT-05:00 STOWE, Vt. (Casey Research Advertorial) -- At a summit in Santiago, Chile on November 10, Ecuadorean President Rafael Correa said he would cancel mineral concessions for companies not in production: "There are five or six companies that are producing, and we'll negotiate with them, but we will revoke the concessions from the rest of them." Correa’s statement was perceived as a threat by the international community of mining stock investors, many of whom feared that it meant all exploration companies in Ecuador were about to be expropriated - maybe with the specific intention of an outright land grab of the properties of mining company Aurelian Resources [TSX:ARU]. Aurelian owns the 95,000-hectare Condor Project in south-eastern Ecuador. Its flagship epithermal gold-silver deposit, Fruta del Norte, has a NI 43- 101-compliant initial inferred resource of 13.7 million ounces of gold (58.9 million tonnes grading 7.23 g/t gold). To evaluate the validity of those fears, Casey Research, a leading research organization focusing on the natural resource sector, reached out to its network of contacts within that country, including an Ecuadorean ministry official, who agreed to speak with a Casey Research analyst on the condition that he would not be named. The official said that Correa was not expounding a new policy, but was simply making a statement relating to proposals already in place, which are aimed at land speculators who have been sitting on mineral concessions for a long time without doing any work. A review is underway, he asserted, and the Ecuadorean government has said all along that parties not working their concessions are at risk of losing them. However, he specifically said that this would not apply to active exploration companies that are complying with the law. He went on to say that the assembly would have to pass a mining law reform before any concessions could be revoked in any case, which will take time. In short, unless President Correa has gone off the deep end without telling his officials - which seems highly unlikely - and is willing to choke off foreign investment in Ecuador, this should not adversely affect the better Ecuador plays. The scare, however, may present a buying opportunity for shares in Aurelian, one of the few major gold discoveries of the last decade, as well as in other companies doing good work in Ecuador. © Casey Research LLC. 2007 Louis James is a Senior Researcher and analyst with Casey Research, LLC, publishers of The International Speculator, Casey Investment Alert, Big Gold, Casey Energy Speculator, Casey Energy Confidential, CaseyResearch.com, KitcoCasey.com and Daily Resource PLUS. Casey Research also manages the Explorers’ League, a membership organization dedicated to identifying and following the careers of the world’s most successful professionals in the fields of mineral exploration and development. Its latest publication, Without Borders, provides research and analysis on internationally diversifying your assets (and lifestyle), including stocks, real estate and more.

[oldkrow]

Check out the Corriente news from yesterday. They stated that they are all set. Permaflation or anyone else who knows how to contact EML, might suggest a similar pr from them, assuming all is OK with them. They have drilled on the Condor project for several years, and are clearing Eccolmetals for various geo-testing. Hopefully that will qualify them as active on their properties. If any one has a

[malvaro]

Hi: here is the email of Mark Kesselman [e-mail] maybe he knows something about. good luck to all.

[oldkrow]

Thanks, M. I emailed Mr. Kesselman, and he replied back right away that "we are attending to these matters". I had asked him to put out a pr as to the standing of EML mining concessions, as did Corriente.