The district of San Marcos, where the mine is located, is the country's richest — receiving about $50 million a year in royalties. Yet it has no paved highways, no hospital, and no water treatment plant. Nearly one third of toddlers suffer from chronic malnutrition — double the national average.It's compelling reading, the story that neither the government of Peru nor the mining companies want you to read. Whole thing here, including a great photoshow.
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UPDATE: Another poll released just a few minutes ago (midday-ish Friday) and sponsored by reliable media has a different call, with Zuluaga on 49% and Santos on 41%, which would imply a fairly comfortable victory for the challenger. Check that out here.
Stephen J. Altmann is a Managing Director with Morrison Park Advisors, an independent investment bank. Prior to assuming this position in January 2012, he was President and a Director of ECU Silver Mining Inc., which he joined in January 2007. Prior to joining ECU, Mr. Altmann worked as an investment banker providing financial and strategic advice to a large selection of domestic and international public companies at firms such as RBC Dominion Securities, Credit Suisse First Boston, Scotia Capital and, most recently, at Desjardins Securities as head of its mining team. He also worked as a geophysicist prior to his investment banking career. Mr. Altmann holds a Bachelor of Science Degree (Honours) in Geophysics and a Master's Degree in Business Administration.
Don't scroll yet:
Taken yesterday afternoon by your humble scribe's fair hand (and his Canon compact).
And the answer is, Mount Taglia.
But The Clive is being punished for Empire Building. Rightly so, too.
Definition of 'Empire Building'
The act of attempting to increase the size and scope of an individual or organization's power and influence. In the corporate world, this is seen when managers or executives are more concerned with expanding their business units, their staffing levels and the dollar value of assets under their control than they are with developing and implementing ways to benefit shareholders.
Investopedia explains 'Empire Building'
Empire building is typically seen as unhealthy for a corporation, as managers will often become more concerned with acquiring greater resource control than with optimally allocating resources. Corporate controls imposed by a company's board and upper-level management are supposed to prevent empire building within a corporation's ranks. The failure to screen out empire builders can lead to corporate actions that do not necessarily provide the best growth opportunities for a corporation and its shareholders, such as acquisitions made to boost the control of the company's executives.
Betcha Sentry has been chatting with The Clive: NR here.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 2, 2014) - Timmins Gold Corp. (TMM.TO)(NYSE MKT:TGD) ("Timmins Gold" or the "Company") is aware that Sentry Investments intends to run a dissident slate to replace six of the eight existing members of the Timmins Gold board of directors (the "Board").The Board is committed to considering the views of all of the shareholders of the Company and is confident that it can resolve this matter in a manner that is in the best interests of the Company and all of the Company's shareholders.The Board's process will include working with an independent consultant to consider the qualifications of the nominees of Sentry Investments and other potential candidates.Annual Meeting DateTimmins Gold has applied to extend the date of its annual meeting of shareholders to September 23, 2014.
Here's today's NR from Scorpio Mining (SPM.to), which tells of how dissenting shareholder Tocqueville has decided not to go medieval on the company directors' butts after all. Here's an extract:
"We are pleased to see Tocqueville stand down from its attempt to take control of the Company's Board at our annual meeting," said Ewan D. Mason, Chairman of the Company. "However, we cannot ignore Tocqueville's disruptive actions and we call on all of our shareholders to show their support for the positive momentum at the Company and vote in favour of our director nominees at the annual meeting."Positive momentum, you say?
Gabriel Elizondo of AlJazz picks up on a survey run in Rio de Janeiro by Brazil's big newspaper O Globo. Among the stats these two stand out:
- 45% of people in Rio approve of the World Cup being held in Brazil, 39% don't approve, 15% indifferent.
- 88% say they don't plan to protest during World Cup, 11% say they will.
PS: Check out AlJazz's Americas blog as well, because Elizondo's surely going to be sending out postcards galore in the weeks to come. Starting with this one and here's an excerpt:
What we do know is if FIFA wanted safe and predictable, the tournament was better suited for Germany or Switzerland. But FIFA wanted new and different, the exotic land of samba, the country of "futebol" with the South American vibes and all that energy and craziness that goes along with it.
You got it, FIFA.Whole thing here