Mining PRs and the Ottotrans™, Part 37

Today's example of Ottotrans™, bravely taking mining NR gobbledygook and valiantly returning it to a version of the English language that normal, well-adjusted people can finally grasp, comes from the keyboard of the IR department over at Torex Gold Resources (TXG.to). 

This is what they wrote:

TORONTO, ONTARIO--(Marketwire - 03/30/11) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX:TXG - News) reports that it is working very closely with Mexican authorities and security measures are being discussed that will permit the Company to resume its exploration and drilling activities at its Morelos Gold Project in Mexico.
Fred Stanford, President and CEO of Torex stated, "I can confirm we have been in close discussions with the Economy Ministry of Mexico, who are spearheading efforts to ensure a timely and authoritative response to the temporary suspension of drilling activities at our Morelos Gold Project announced in our press release dated March 24, 2011. We are truly appreciative of the concern, interest and timely response shown by Minister Ferrari and his office as well as other Federal, State and Municipal officials."
"Action is underway and we are confident that Federal and State authorities will help facilitate the appropriate safeguards and security measures to allow us to recommence our exploration programs as soon as possible. We believe that this, along with new Company security measures, will result in a security presence that will provide long term stability for the Morelos Gold Project", he added "We could not have asked for better cooperation from government officials and plans are being developed for a timely return to the site."

And this is what it means:

TORONTO, ONTARIO--(Marketwire - 03/30/11) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX:TXG - News) reports that it still isn't drilling, its staff are scared crapless after being robbed of their 4X4 vehicles at gunpoint last week and that the salary bill for security going forward is going to cost an arm and a leg, what with the Morelos property being in the middle of freakin' nowhere and a sitting duck for further violent criminal attacks. I mean, it's not like Mexico has a problem with organizaed crime at the moment is it?

Mexico drug gangs and Pan American Silver (PAA.to) (PAAS)

Here's a small clip from IKN78, out yesterday. Funny how PAAS hasn't bothered to tell its shareholders about the robbery, innit?

Mexico Mining and drug violence update

Further to our feature in IKN76 of the Reuters story about the rise in drug violence crime that is beginning to affect Mexico’s mining industry, your author has noticed an upsurge in reporting in the Spanish language on this issue that include declarations from Mexico’s Camimex that (we quote), “some murders have already been registered in mining camps in the country.”

We can also confirm via a report in Spanish language business magazine Milenio (14) that the mine affected by a recent robbery was Pan American Silver’s (PAA.to) (PAAS) La Colorada mine, when 150 bars of silver/gold doré were stolen with a metal value of $3m. Your author finds it interesting that the victim of said robbery was one of Mexico’s larger, internationally owned mines with an annual production that ranges between 3.5m and 4m ounces of silver per year, not some small artisanal company with probably much less in the way of security infrastructure. By way of a geographical location reminder, La Colorada is situated in Zacatecas state, roughly midway between the cities of Zacatecas and Durango.

Elena Rodriguez

Elena (for it is she)

On the night of Wednesday September 16th, the TV journalist Elena Rodriguez was attacked by three armed men, beaten, pistol whipped and left in the streets of Quito, Ecuador. A stencilled death threat was left on the windscreen of her car that make it clear the attack was politically motivated and said she wouldn't be so lucky next time. Her injuries were not life-threatening but the pistol-whip knocked her cold and drew blood and the punches left her bruised all over and confined to bed on medical orders for 72 hours.

The story is featured in dozens of reports in Spanish language press, but as far as my Google skills carry me I cannot find a single English-language report of this cowardly attack on a journalist. I'd wager that you find it strange that the story of full-on violence against a journalist isn't making the normal shock-horror headlines, as the slightest aggression towards reporters is enough to make them close ranks, never mind a 3-on-1 whackattack like the one Elena went through.

The reason? Elena Rodriguez works for Telesur, the leftwing pro-Chávez network. Therefore she's ignored by the biased press that fills your head with one-sided crap about LatAm. On the other hand, ruffle Andres Oppenheimer's hair*, blow a kiss to Simon Romero in Cuzco or dare to mention that Moris Beracha is a wealthy man in polite company and you get the freakin' human rights police investigating the case.

Mojitos served. The end

*what's left of it

Reject and protest Bolivian mob rule now, before it's too late

The story of the week in Bolivia has been, without a doubt, the attack on the home of opposition politician Victor Hugo Cardenas by Evo Morales supporters. The best write-up I've seen on the story is (as usual) Jim Shultz over at Blog From Bolivia and it's linked for you right here. I recommend you check out Jim's words to get the nuts and bolts of what happened last weekend, his normal sharp insight also comes for free.

Mine is a commentary, no more. Firstly, I join the vast majority of voices down these parts that totally rejects, condemns and speaks out against such mob-style vigilante movements and ask that the government of Evo Morales clamps down immediately on this action and doesn't let it become a trend. Morales has talked plenty of talk about "equality for all", and now he has to show he isn't afraid of weeding out the bad ones from his own movement.

The episode reminds me that Bolivia's democracy is still in its infancy. There's a whole section of its population that have never been allowed into the democratic franchise before (about 60% of them, in fact) and now that they have some real political power the temptation to excess in the minds of some factions is clear. Morales' job now, and it's a tough job, is to get Bolivia out of the childish phase of democratic backlash and revenge-taking as quickly as possible. In a perfect world, last weekend's episode will mark the end of it. We shall see.

Following on from that, I'm also reminded at the way the Central European Jewish community took their revenge on many members of the Nazi party in the period just after WWII. Of course this example is more extreme than the situation in Bolivia today. Of course it doesn't condone the attack on Cardenas' home. That said, authorities ostensibly rejected the summary executions by Jewish vengeance-seekers at that time but also, deep down, understood. Governments of countries all over the region stood back and watched the bloodlettings. To be quite honest, after what the Jewish people went through in the years previous I would have stood back and done nothing afterwards, too. The act of revenge for past ills is a primitive emotion and is not one confined to Bolivia 2009. Again and to emphasize, the indigenous Bolivian's plight isn't anything as dire as the Jewish shoah but it has stirred the same underlying emotions amongst its more extreme militants. Evo Morales needs to show, quickly and firmly, that his pacifist and reconciliatory message is good for all sides, not just eastern criollo white versus western indigenous brown. President Morales, impose the rule of law now, before it's too late.

Finally, the roaring silence on this from the progressive English language blogs that cover Bolivia (you know who you are) does no service to the free and open dialogue that you say you want about the other bits of Bolivia 2009...all the coca leaf, racism, self-rule, new democracy, constitution-for-all etc etc. I've waited patiently all week and, Schultz at BFB aside, there has been nothing from the blogs that should cover the bigger Bolivian stories and inform the wider world about the real Bolivia. If it's a big story that doesn't fit with your vision of the shiny, new and wholly healthy Bolivia you cannot ignore the story out of convenience. Nuff said.