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Endeavour Silver Corp. Message Board

  • newscentral2002 newscentral2002 Feb 16, 2013 3:22 AM Flag

    EXK - non issues

    The country had an eventful political year with a general election held in July 2012. President Felipe Calderón was replaced by Enrique Peña Nieto from the Institutional Revolutionary Party. The election itself was surrounded by controversy, but after a ruling from Mexico’s Federal Electoral Tribunal, Mr Peña Nieto is now the undisputed president elect and takes power on the 1 December 2012. The political uncertainty during the first half of the year had a knock-on effect on shareholder confidence and the number of M&A deals in Mexico fell slightly. We have seen a corresponding drop in the number of M&A lawyers with only 43 practitioners included in this edition, compared to 45 in 2011.

    The new proposed mining laws are now hitting the net. Legal and accounting sites are in full discussion as to what the impact will be. Outright exemptions are discussed. I have often talked about the environmental issues of mining in Mexico. I had called most miners with mines in Mexico about nine months ago and did a lot of expanded research and came to the conclusion that my shares in EXK were safe, cough. EXK has released their report on community affairs and it shows strong giving and support to the local communities. EXK continued to drop in share price. I believe that EXK has been offsetting any proposed tax increases with community giving which is stated as rules for tax fairness in the proposed bill. The new president of Mexico is going to get tough about the environment. EXK has received recent awards for keeping a clean and safe environment. So stupid funds need to wait up and realize this.

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    • news, Thanks for the good post. I think one of the biggest risks to all miners in Mexico is the reelection of the PRI. There seems to be a good deal of resistance to the PRI resuming control. I would think that if the PRI has indeed reformed itself as claimed then the risk of a growing resistance to PRI would be mitigated. However, I'm not all that confident that that leopard can change those spots. What you say is very reasonable. The only note of caution I would sound on the political front is to pay a lot of attention to the indigenous resistance groups. Refer to 2012: Year of Indigenous Resistance in Mexico and Worldwide Echo in support of the Zapatistas on the day of Indigenous Resistance for examples of things to keep an eye on.

      I think if the PRI resumes its corrupt ways there is significant risk of some Chavez style politics coming to Mexico. It won't happen quickly so just something to keep on the radar.

      • 1 Reply to sewells831
      • The first paragraph in my above post is from a legal site. For the last year I have scouted newspapers in Mexico for information on mineral mining. I'm glad that you bought up the subject about indigenous resistance groups. I had posted a lot about that last summer. There is one large miner where there has been issues concerning farmers, water rights, pollution, glaziers and more. This large miner does have political connections. With EXK, they treat the land and communities with respect as they have given locals support and respect. This has recently been noted by the Mexican government, citizen and labor groups and from environmental groups. I believe that EXK is in an outstanding position to continue to stand tall and this is an advantage. I see no reasons for concern with any issues for EXK. This is why I started this tread before the bashers try to make something out of nothing in regards to EXK. Funds should had been buying EXK and not selling.

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