Hmm, I look with interest at what they had to do in Sta Rosalia to make copper ore mining viable. There is chatter that the Australians have found the
richest copper lode in the history of the world. The only reason Sta Rosalia was developed is because of the inflated cost of copper these days. Risky
business that. If China gets fed Australian copper the market will get 'er unpredictable. ▼Bajahowodd - 5-27-2013 at 04:04 PM
At any rate, Santa Rosalia is currently a boom town due to the re-start of mining operations.
And since Loreto lacks a deep harbor, I'm guessing that if and when mining operations actually start, they will have to truck up to Santa Rosalia to
ship.mulegemichael - 5-27-2013 at 04:41 PM
interesting, to US, at least that a couple of years ago we speculated and bought a few thousand shares of the boleo mine in santa rosalia...it was on
the canadian exchange and we had to convince our financial advisor to purchase it.....well, over the past couple of years it's been up and down, up
and down, and then magically one day this past winter it just disappeared from the internet!...POOF!!!....so we don't really know where we stand right
now in terms of whether or not we are still investors or have dropped off the map.
Unfortunately............
akmaxx - 5-27-2013 at 06:54 PM
They are still there but the criminal mismanagement of their billion dollar credit line forced the Canadian partners in the mine to sell most of their
stake at pennies on the dollar to maintain a toe-hold in the fantastically rich copper mine.
The Koreans bought most of the debt and the Canadian company you own shares in will only have a 10% stake in the mine (down from 70%) so when the mine
goes online next year (fingers crossed) the shares will only receive a 10% portion of the profits.
The comparisons show the max value of the shares at .50 which is way below what a lot of people invested but considerably higher than the .3-.4 it is
trading at now. Once bitten twice shy so I won't be averaging down on this one.
WOW....MAX!!!...well...thank gawd someone else is taking care of MY stuff as i could barely READ what you wrote, let alone have you tell it to my
face!....so ....are you now living in la paz???...headed back down as we speak..m.bajario - 5-28-2013 at 05:36 AM
I too banked on the Boleo mine. BAJFF is where you can find the symbol. I bailed out at .10 for the most part. I was hoping the decimal point would be
further to the right at this time but believe it will only go left. Oh well on to the next gamble to dream of a closer retirement.DavidE - 5-28-2013 at 10:51 AM
Truck the ore? Yes. In giant 300-ton Euclid 18 foot wide ore trucks. I can see it now...with maybe a few joints and spoonfuls of bath salts. The most
formidable cost in mining is getting the ore to smelter. Second, is maintenance. I'll bet that land was leased for a dollar an acre per year. The
Federal government never EVER gives up its rights to MINERALS or water. You can buy property and gold plate it but the minerals and water RIGHTS
belong to gobernacion.Mariz - 5-28-2013 at 01:08 PM
Supposedly they purchased the mineral rights to about 10,000 hectares for $137,000.00 USD. I think this is fact, I have read it in several different
places...but who really knows?DavidE - 5-28-2013 at 03:07 PM
Purchased needs to be changed to leased to be accurate. But yeah, transparent as Mississippi River Bottom Mud.
Oye Hector, we gotta say some-thing. Oh pynche madre si es cierto, A million doillars. No amigo that's way too much. Five hundred thousand? Make it
sound real. Like one hundred thirty seven thousand.
I've seen meaningless deals announced in Mexico where not one freakin' centavo ever changed hands but enormous sums were cast to the media as investor
bait.
Fonatur, once halfway legitimate is now nothing more than an empty cheerleader grade investor hook-line-and-sinker "marketer".
I would have just slightly more confidence in the El Boleo project if even mere wishful thinking pipe-dream plans were announced for a copper smelter
and finish plant in Guaymas or Topolobampo.
All it would take is a long chain, padlock, and foot high stack of Pink Slips to make the word "El Boleo" mean the bakery once again.güero - 5-28-2013 at 11:27 PM
Quote:
Originally posted by Mariz
Supposedly they purchased the mineral rights to about 10,000 hectares for $137,000.00 USD. I think this is fact, I have read it in several different
places...but who really knows?
Nothing much will probably happen in my lifetime, I'm 60. Loreto is very slow moving. Maybe my grandkids will see it.Mariz - 5-29-2013 at 05:56 AM
We have been living full time in Loreto for more than 6 years.
I do have to say that in that time there have been substancial changes and improvement to the town and area.
Loreto was recently recognized as having the highest poverty rate in BCS. Not exactly something to be proud of...
There seems to be some serious interest in our area, Carlos Slim has huge investments in and around Loreto.
Things could happen quicker because of it, then again maybe not
Does anyone have any more info on the mining plans ? Hope
it doesn't happen , just would like to hear what they are thinking . 