CEO jailed for mining pollution of a river
Company Silver Mine San Rafael announced it would appeal the ruling.
PHOTO: ANTONIO CASTRO
The general manager of the San Rafael Silver Mine, owned by Canadian Tahoe Resources Inc., was jailed for signs of defiling a river and affected thousands of people from at least three communities.
"This is the first time in the history of the country in which he is sent to prison for a general manager of a mining pollution of a river, there is sufficient evidence of contamination," said Rafael Maldonado, lawyer Environment- Action Center Legal and Social Guatemala Calas, who filed the complaint.
The incident occurred in 2012, when industrial pollution of water from a river gorge Slaves, main water artery of the department of Santa Rosa, located about 70 kilometers southeast of the Guatemalan capital was reported.
According to the complaint, the mining company pulling liquid waste substances used in the exploration of minerals in the Mina San Rafael to the gorge of the river, causing contamination suspended solids and water discoloration, what He made unfit for human and animal consumption or for agriculture.
"This access to water of the communities was limited, and the municipalities of San Rafael Las Flores, Casillas and Nueva Santa Rosa, the most affected, also damaged the irrigation system of its plantations," Maldonado said.
Carlos Roberto Morales was jailed by Judge Santa Rosa, Roberto Flores, by now serve as manager of the mining and judicial investigation of the facts she has been ordered were feared interference from the truth.
Minera San Rafael said in a brief press release that the company does not generate negative impacts to natural resources and would appeal the judge's decision, which is exaggerated and do not reflect the seriousness of the alleged crime.
"Minera San Rafael is a Guatemalan company that operates ethically under national and international standards. The care and management of natural resources has always been done according to Guatemalan law ... The evidence does not support allegations of industrial pollution" said the company.
Installation and operation of the San Rafael mine has caused several violent incidents in the area. In 2012, President Otto Perez Molina declared a state of siege for a week, militarizing the area because of the violence which caused several injuries and deaths among people who are for and against the mine.
G7 leaders should have included BTG along with their plan to end use of fossil by 2100.
Probably by that time BTG will also double.
LAKE SHORE GOLD CORP. (LSG)
Lake Shore Gold is a gold mining company.
52-Week Range: $0.60-$1.28
Let’s get the bad news out of the way first. Over the past trailing twelve months, Lake Shore Gold has a profit margin of negative 75% and a return-on-equity of negative 35%. This isn’t going to excite many investors. On the other hand, fixable situations (that are actually fixable) present the biggest opportunities — if that company does manage turn it around, the stock price appreciation will be substantial.
The good news is that preliminary cash operating cost per ounce came in at $595 for 2014, versus a previous expectation of $675-$755 per ounce. These lower costs have helped drive free cash flow, which can be put to use advancing new discoveries. (For related reading, see: Does Warren Buffett Invest in Gold? Why or Why Not?)
Lake Shore Gold is very focused on costs. In 2014, it strengthened its balance sheet, which included $26 million in cash and bullion, while repaying $45 million in debt. It currently has $60 million in cash and billion with its senior secured debt only $7 million.
This is a good speculative play, but you still need to be careful with any company that’s trading below $5, let alone below $1. Remember, the company is not profitable.