And EXK management remains hidden in their cozy chalets in a Swiss ski resort. They're expected to be gone for two more weeks. Rumor has it their phones only work domestically, so they're incognito.
BUY PHYSICAL!!!.....don't let pumpers get into your head with their buy and hold mentality.
Mexico Expected to Introduce Mining Royalties
MEXICO CITY – Mexican mining sector executives say they expect the government will begin charging some type of royalty on their firms’ output, Banamex, the Mexican subsidiary of Citigroup, said.
Analysts with Banamex’s Accival brokerage house participated in a seminar in New York Thursday on mining in Mexico, a gathering attended by executives from the Mexican Mining Chamber, or Camimex, and officials with Mexico’s Economy Secretariat.
“There is an unofficial consensus in Mexico that eventually some type of royalty will be imposed (none exists at the moment),” an Accival report signed by analyst Alexander Hacking said.
“Our previous conversations with mining sector executives lead us to the same conclusion: it’s not a matter of ‘if they’ll be imposed or not, but when,’” the report added.
Even so, investors “seem less focused on royalties in Mexico and more focused on the possibility that royalties in Brazil will increase,” Hacking said.
Mexico’s Congress has mulled various proposals for mining royalties in recent years that called for payments of between 1.5 percent and 5 percent of production, while Camimex is currently discussing the issue with the government.
According to Accival, “royalties should consider prices over the long term rather than current prices” and “should vary based on the type of mineral to account for their different economic aspects.”
Mining is an important source of foreign currency in Mexico and a key component of the country’s gross domestic product.
An estimated $9.3 billion is to be invested in Mexico’s mining industry in 2011-2012.
beastinem is right that is old news. that news came out February 5th and was a non-event. exk came out with a press release a few days ago explaining what they are doing for the local communities in mexico so they are already complying with the bill before it even passes.
From the Basher's Handbook - Unsophisticated Bashers will try to freshen up old news with a new date or by-line in an attempt to fool you. There no article about this subject matter in the Latin American Herald Tribune so far this year.
Huh??......Told you where to go Latin American Herald Tribune. See for yourself. You attack me for truth??......sorry you don't like what I post, but it's the truth. EXK is a broken stock and its management is useless n regards to individual investors. Shamefull that they are so quiet as stock drops 15% in a week. And you defend them?
Again, I state: "Miners are created to produce wealth for management first and foremost, not the shareholder".