My opinions only, do your own DD

Watch for the tax bill to be passed by the assembly in an extraordinary session on 29 Dec.

This is still subject to revision, and negotiation in committee January.

While the 70% windfall tax is aimed at oil companies, specifically new contracts, the aim is to encourage oil companies with old contracts + 99% windfall tax to renegotiate a fairer contract with the 70% windfall tax.

Mining will also be included in the WT however with much more room for negotiation. The minimum WT is set at the gold rate the day the contract is signed but there is no maximum.

So in effect they might set the WT rate very high for a 'good' company, and very low for a company that has not worked with the locals re employment, infrastructure, decision making etc.

I think we can agree ARU has been the best at working with the locals. Cudos to management. So ARU should have the best leverage in negotiations.

Being the main gem in Ecuador's new mining crown, Ecuador will want future mining investors to look at the 'model company' ARU, how they treat the locals, and in return, how ARU is treated by the government.

The future expanion of Ecuador's mining sector is important to their future prosperity in general. So, it's very important to Correa.

Ecuador has already stated that in these negotiations re mining law, and mining WT, they will be using a Canadian specialist to assist them. Good news for us. 

Bring it on.

safeharbour