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Message: Anyone still care about Ecuador.....?

Anyone still care about Ecuador.....?

posted on Oct 17, 2009 01:20PM

I just lifted this from Cornerstone's PR issued yesterday.

"08:00 EDT Friday, October 16, 2009

MOUNT PEARL, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 16, 2009) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) is pleased to announce that at a meeting held yesterday in Toronto, the Government of Ecuador confirmed that the Regulations to the Mining Law will be approved by November 4, 2009 and exploration work will then be allowed to resume.

This announcement was made by the Ecuadorian Vice-Minister of Strategic Sectors, Mr. Luis Roman and the Vice Minister of Non-Renewable Natural Resources (ex Ministry of Mines and Petroleum), Mrs. Carolina Bernal. Both Government representatives are part of an Ecuadorian delegation that met with their Canadian peers in Ottawa the previous day..........."

Do any of you know what they are approving this time? The mining moratorium is supposed to be lifted in October 2008, but of course we all knew that it did not. That was the beginning of the end of our ARU. Is this some kind of an anniversary celebration of a broken promise?

The lesson I took away from this is that I'll never take a chance on exploratory mining companies. I now only invest in mining companies that have established production and promising future. That would have eliminated a lot of the bad experience gained from owning ARU for three years.

With the rally in mining stocks of late, I hope the old ARU comrades are making a killing in the market these days.

Cheers.

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