MCO 0.00% 11.0¢ morning star gold n.l.

gold security assured by mining in victoria

  1. 5,534 Posts.
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    guys

    i just noticed someone posted this on the gold thread about the govt. of venezuela taking over a canadian owned gold mine. it emphasis's the risks that co's endure when mining o/s.

    sovereign risk is always a consideration in these volatile times. and the state of victoria would be one of the most secure places of all to mine. especially when you have a high grade/low cost gold mine with loads of potential sitting in the ground.

    the only invasion victoria has had to adapt to over the last century is the pommy songsters at the boxing day test match.

    with this consideration in mind i have decided to give the '5 star' gold medal to MCO, as, essentially, there is no sovereign risk at all.

    http://www.reuters.com/article/marketsNews/idUSN0531130420081105?rpc=401&

    CARACAS, Nov 5 (Reuters) - Venezuela will take over the giant Las Cristinas gold project operated by Canadian miner Crystallex, the government said on Wednesday, a new step by President Hugo Chavez to put key industries into state hands.
 
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