The ostensible reason for Mendoza’s hatred of mining is that the locals are all clean and green and won’t allow nasty chemicals to be used around their way, such as cyanide and sulphuric acid. So COP.to has submitted a float-only business plan that needs no H2SO4 to produce its copper and gold. The problem with this is that the real reason Mendoza doesn’t want miners is the local wine growers’ cartel of criollo landed gentry want no competition for the cheap near-slave labour around grape harvesting time and they view any other large scale industry trying to move in on their patch as serious competition.
Progress sucks when it stops you from being rich and powerful. Thus even though COP.to’s plan is green, clean and mean, expect some trumped up objection to stop the mine from moving ahead. Unless, of course, COP.to can come up with suitable ‘incentives’ for the right people at the right time and by the looks of things that kind of deal might push share count over 200m just to get the permit signed. Then there’d be the little matter of raising $277m to build the actual mine. Yeah, we’re talking Lake Titicaca dilution world here.
Otto sez: avoid COP.to like the veritable plague. This thing is now operating for the benefit of those employed, not for any reason that could even approach being labelled as shareholder value. There are plenty other microdot priced juniors you can risk a few shekels with. This one is not the place.