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Message: Re: New Election Period Begins in Ecuador

By now we should know Correa is only interested in sending his people to the voting booth rather than sending them back to work.

If I were an Ecuadorian I would be tired of all these voting by now, especially when nothing changes after these series of votes. The country is still stuck in neutral (and economically slipping), while their main source of foreign exchange - oil revenue - plunged due to falling oil prices. Guess what they do? They tried to renege on some foreign debt by claiming them to be illegal.

Well, you can try that all you want but it's "Ecuador - the country" that borrowed these funds, not the previous governments. Once you do that you have no credibility internationally and you won't be able to borrow a cent ever again. Speaking of stupidity and shoot yourself in the foot!!! They could be just bluffing, but the nation's image is ruined.

By the way, can you image what ARU's share price would be if not for the "steal" by Kinross? Say $1.00 to $0.50. With no mining law in sight and Ecuador's political risk just never ends, plus the global meldown in the equity market which hits junior miners the hardest?

In retrospect, the Kinross deal was still a lousy deal, but at least we now have a bit of a cushion to fall on. Maybe everything do happen for a reason after all.



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