Take physic, pomp

Today’s edition of Canadian Brokerage doubletalk

It’s time to play “Thing Thing Isn’t Like That Thing” thanks to Canada’s Scotia and the developments in the Chubut (please note correct spelling, Scotiadudes) region of Argentina. 
Back on February 29th 2012 when the funnyguys at Scotia Mining Sales decided to pump on Chubut because they were mad enough to think the region was about to go all miner-friendly and pass some new laws, here’s what they said about Yamana’s (AUY) (YRI.to) Suyai/Esquel property in that region:
And Yamana’s Esquel (now called Suyai) Also a Beauty – They Will Benefit from
a Positive Mining Swing in Chubut

– Scotia Mining loves low sulphidation, epithermal precious metals
deposits (like Goldcorp’s Cerro Negro and AngloGold’s
Cerro Van Guardia both in Argentina) – Most Analysts give very little
value to Yamana’s Suyai due to the current laws in Chabut making it near
impossible to develop.  Yamana (YRI-CN/AUY-US, 2-SP, US$19.50/sh
target, Tanya Jakusconek) is looking to develop
Suyai as an underground deposit instead of open-pit plus Mill the ore
off-site in an area that would be more acceptable to locals (perhaps as
far as 40kms away).  The high grade nature of the orebody gives Yamana
this flexibility.  Suyai, which has huge exploration
potential, currently has 2.3Mozs grading 15 gpt in the Indicated

But today July 3rd, with the news that Chubut’s law proposals (still at proposal stage five months later, you’ll note) are all nasty and horrid and smelly and that, here are their thoughts on the same asset held by the same company:

Minimal Impact for Yamana
while Yamana’s (AUY-US / YRI-CN,
2-SP, US$19/sh target, Tanya Jakusconek) Suyai project is also located
Chubut , it comprises only ~1% of her Yamana NAV and is being evaluated
as an underground mine with offsite processing, tailings, and waste
Soooo, how’s that again? If things go positive YRI is this wonderful buy with super positive benefits, but if things go badly it’s no problem. Wowsers, I need one of them there no-lose assets in my portfolio too! Maybe.
Gotta love these no base salary + commish jobs in Canada, no?

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