I have listened to the broadcast 3 times.

Yes, PA does say  that the mining policy will not be in place until next year. 

He immediately goes on to state that the government wants the stability agreements in place soon.  The agreements with the 4 companies.  In addition he emphasizes that Ecuador is working with Chile to develop their policy.

JMO: I don't know why it takes so long to make a mining policy, but I do not believe the policy will have any effect on ARU. Reason could be that they do not have one and want to put a sound one in place!

For sure though: The agreements with ARU will be in place, the royalty issue sorted, the WFT buried or stabilized and we move forward before the end of May.

Respectfully,

Helo