Paul is one of the three founders of Dilato Media Technology & is the Chief Editor of MyStockVoice.com as well as heading up Business Development. Paul has a backround in international telecoms, prior he was an officer in the Royal Navy. He is regularly published on online portals such as Seeking Alpha & iStockAnalyst, where he concentrates on telecom, energy & commodities, mainly via ADR & ETF investment vehicles.
Paul's Biography
CommentsPosted: Friday 17/07/2009 18:55
In a June 5, 2009 ceremony attended by President Rafael Correa, Minister of Mining, Santiago Gonzales & the CEO of Codelco, Jose Pablo Arellano, a cooperation agreement was signed for the exploration and development of potential copper resources currently under the control of the Government of Ecuador. Personnel from Corriente were invited as guests to the signing ceremony, which included top officials from Codelco, President Rafael Correa, his Cabinet and local dignitaries.
After the signing, President Correa delivered a speech to local communities and commented, "Colleagues I am an economist specializing in development... and I know what is necessary for the country to emerge from underdevelopment and to attend to the poorest. We cannot live as beggars sitting on a sack of gold...".
Ken Shannon, Corriente's President and CEO, "We welcome the participation of Codelco, the largest copper producer in the world, in the development of the copper sector in Ecuador. Their presence is an indicator of the success that the Government of Ecuador is having in advancing the theme of responsible mining and an indication that this message is being well received by the mining industry."
Also during this past weekend, a number of government officials visited the company's Mirador and Panantza - San Carlos project sites and took the opportunity to see the responsible nature of the company's development activities.
Corriente was also able to provide a tour of our newly commissioned Mirador micro-hydro project, which provides clean energy for all of the needs of the Mirador camp through a small run-of-river hydro facility using the existing water supply. This power project is significant in that it utilizes the first "made in Ecuador" commercial turbine, which was completely designed and built within Ecuador by an Ecuadorian engineering team. This small-scale project is an example of the scalable green technology that can be part of responsible mine development. Plans are underway to examine other potential sites that can benefit from this Ecuador technology.
Recently, a capacity-building agreement was signed between Corriente and the indigenous Shuar Federation of Zamora - Chinchipe . This agreement establishes specific capacity building, job training, and socio-environmental projects with the SFZCH.
Negotiations are continuing with the selected party regarding the potential sale of the company, as last announced in the company's news release dated March 31, 2009. Discussions have progressed well and management is satisfied with the advances made in this process to date. Further comments or announcements will be made by the company as developments warrant. No assurance can be given that the negotiations will result in an agreement for any sale of the company.
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