Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten
The company whose shareholders were better than its management
Message: Ascendant Copper....not happy campers
Dear Mr.Ross. The action taken by the Ecuadorian Government last week applies to all miners in Ecuador. There will be at least a 6 month hiatus in all mining activity to allow the constitutional committee time to establish a new mining law. The new mining law will make it very difficult for any reasonable businessman to conduct business in Ecuador. We expect significantly higher taxes, increased State control, slash mining holdings for companies to three concessions maximum per company (most have 100’s), share future profits with the state, etc. A very socialistic approach that will kill the mining industry in Ecuador. It is unlikely that we will regain control of Junin, but we are still trying through the courts. Ascendants course of action has been to acquire a small public company that has viable copper assets in Arizona and develop those assets as quickly as possible. One asset has about 500 million pounds of recoverable copper that is amenable to SXEW extraction. With proper financing of about $30 million we should be in production at the rate of 25 million pounds per year in 18 to 24 months. We have hired new technical staff and are working on the financing. We are putting Ecuador on the back burner until the future is clearer. Best regards, John John R. HaighManager Investor RelationsAscendant Copper Corporation405 Urban Blvd, Suite 200Lakewood, CO 80228 jhaigh@ascendantcopper.com303-824-0271 Phone866-907-5047 Toll Free720-320-7383 Cellwww.ascendantcopper.com
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