I have been doing a little digging trying to see if there is any direct effect of the recent BCM situation with our situation. IMO, I don,t beleive the current concerns of BCM effect us in any way at the present.

The BCM saga has been ongoing for months and there is a long story behind it. They are years further along than us and are planning to start mining soon. They are trying to get their ESIA permit approved and have been put on hold so they can mine. We have our EIS approved and are still in early exploration and an ESIA may never be required by us, that would be for the buyer to obtain. There are a lot of differences between our property and BCM,s that makes it a different situation environmentally.

To name a few, I can,t confirm this yet, but it looks as though they are close to a national park, we are not, to my knowledge. They are at an altitude of 4000m plus, we are at 2300m, which for any Alpine run off is diminished by half. There is no Alpine runoff at Tesoro, it is a plateau that sees literally no rain. A river near them was to be dammed for hydroelectric power(Inambari River) to feed the mine and the excess power sold to the main power grid. They are within 50 miles from Bolivia,s border,we are approx 500 miles.

You have to remember, we are good to go and that these current issues could well be resolved with BCM by the time our property ever got to these stages.

Here are some links to my research for this post.

http://www.bearcreekmining.com/s/NewsReleases.asp?ReportID=458932

http://www.bearcreekmining.com/s/NewsReleases.asp?ReportID=460069

http://en.wikipedia.org/wiki/Mineral_industry_of_Peru

An interesting thing I found on BCM,S technical report was;

ROYALTIES PAID TO THE PERUVIAN GOVERNMENT WOULD BE;

1% up to $60 million revenue

2% up to $120 million revenue

3% from $120 million revenue and up