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Read the fine print

4 April 2018

Via Otto at Inca Kola News (“Annoyingly independent commentary on mining stocks and other things”) .  TOREX, the Canadian mining firm has an “interesting” way of describing the on-going problems with their El Limon open pit gold mine… the murders, the strikes, the clash with autodefensas (people’s militias)…

 

“… the AIF’s [2017 Annual Information Form] ‘Risk Factors’ section, is just about the most wonderful I’ve ever read:

The ELG Mine Complex has brought new wealth to the area, and for some, the land leases, jobs, and business opportunities have created a distinctly improved set of economic outcomes. However, not everyone has been able to take advantage of these opportunities and for those who have not seen a dramatic change in their lifestyle, they now see others in their community with wealth that they do not have. This has been perceived as unfair by some members of the community, and most of the blockades to date have been an expression of that perceived unfairness. The Company has been working with the government to mitigate this risk of blockades, and it is expected that the economic benefits of the ELG Mine Complex will reach more local citizens once the government’s mining fund, which is supported by royalties from the ELG Mine Complex, starts to invest in the region. There is no assurance that the Company’s efforts will be able to effectively mitigate such risks.

Ottotrans: “It’s not our fault that we’re so wonderful and nobody told us that Guerrero is a difficult place, those small brown people should be happy and it’s just not jolly well fair.”

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