"The head of a small precious metals mining company said Thursday that miners and investors should be optimistic about forthcoming mining legislation in Ecuador, a country that in April shocked the market by shutting all exploration in the country for 6 months.

"We think the market's going to be pleasantly surprised when they see this new mining law," said Stephen J. Kay, president and CEO of International Minerals Corp. (IMZ), a junior gold and silver company that has been participating in the drafting process of a new Ecuadorian mining law."

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