Win us with honest trifles

Goldgroup (GGA.to) now has serious problems at Caballo Blanco: The State governor just said “no”

Is the company going to step up and make a statement? On reading this, it’s about time it did, methinks:

Mexican State of Veracruz Rejects Goldgroup Mining Project

Monday, 27 Feb 2012

Mexico: The governor of Veracruz, Javier Duarte de Ochoa, rejected the installation and operation of the gold mine in the municipalities of Alto Lucero and Actopan promoted by the Canadian company Goldgroup.

“After careful inter-institutional studies made by the secretaries of the environment, social development, civil protection, health and economic development, the State government has come to the conclusion that the Caballo Blanco mine is not a viable project”, he said.

He added that “It is incompatible with the specific environmental characteristics of the zone in which it would operate.”

continues here

Disclosure: I’m adding a disclosure and extra information to this post on request from a GGA.to long. Firstly I have no position in GGA.to, not long and not short and that’s not about to change. Secondly, there’s more to today’s story than just the above translation and anyone with a vested interest in the stock, the company or the region should find out all they can. Start with the following links here, here and here. Thirdly, you’ll note those links are in Spanish language and if you don’t understand Spanish well enough to read them you should really ask yourself exactly why you’re in this stock in the first place, because if you have to rely on the filtered and selective information that’s dripped to you by obviously biased sources you’re at a woeful disadvantage. If you don’t do your own DD you only have yourself to blame. Finally, let it be known that I stopped swallowing the one-sided twaddle that spews from junior mining IR departments years ago. Until a company has proven itself to be a trustworthy source, its information should be considered just as bad as some asshole blogger spouting off on the interwebs.

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