Posts tagged: Copper Mesa

COPPER MESA DELISTED FROM THE TORONTO STOCK EXCHANGE!!

By , February 23, 2010
Share

Last Friday (Feb. 19) was the last trading day for Copper Mesa on the Toronto Stock Exchange!!!
(español/inglés)
As most of you know, on January 19 of this year, the Toronto Stock Exchange took the decision of delisting Copper Mesa Mining Corporation from the exchange.

Interestingly, the company did not appeal the TSX’s decision, and is now trading on what is known as the Pink Sheets (Over the Counter Bulletin Board). This is the least prestigious place for companies to trade their shares, since it is a completely unregulated marketplace (much, much less so than even the barely regulated TSX). Most companies here either are pirate companies, or are very close to bankruptcy (and/or were unable to comply with regulations in other stock exchanges). In other words, unsavory, high-risk enterprises.

In real terms, what this means that it’s all over for Copper Mesa. They will not be able to raise capital, and will likely soon file for bankruptcy. For us it means they will not be able to keep funding the social havoc in our communities, nor violate our rights anymore. On a more general note, it sends a powerful message to other communities fighting mining projects that a delisting like this is indeed possible.

In spite of such fantastic outcome, we are concerned by the presence of a pseudo agricultural company using a couple of the company’s properties within the mining concession. The company, Schwarz and Drouet, offers services to the oil industry, and has hired a few of Copper Mesa’s old employees, plus has been given away some small gifts to the locals. Their presence is probably meant to keep a low-profile presence in case the mining project is reactivated. In such scenario, they’ll be able to sell their land to the new company. The use of the land by this company also makes it harder for the communities to invade it, or the local government expropriate it.

Thank you again for the role you played in helping us achieve this amazing, and transcendental victory.

Carlos Zorrilla
DECOIN

FIN DE COPPER MESA (Ascendant Copper)
El día viernes 19 de febrero fue el último día que la empresa minera Copper Mesa Mining Corporation cotizó sus acciones en la Bolsa de Valores de Toronto. La bolsa tomó la decisión el 19 de enero del año en curso de prohibir la cotización de las acciones de la empresa canadiense, supuestamente por incumplimir con requisitos de la bolsa. Una de las consecuencias de este singular triunfo es que se la hará imposible para la empresa captar más dinero en dicha bolsa. En la actualidad, las acciones están siendo negociadas en lo que se denomina los “Pink Sheets” (o: over the counter), un tipo de mercado donde cualquier empresa puede negociar sus acciones sin el más mínimo control de parte de entidades gubernamentales. Estos espacios son la última opción para empresas que están en vía de bancarrota, o que fueron expulsadas de otras bolsas de valores. Por ende, ningún inversionista serio va a invertir en una de estas empresas. Es más que probable que en pocos días se declare en bancarrota. En la práctica, este hecho marca el final de Copper Mesa Mining Corporation.

Para las comunidades de Intag, lo que esta decisión significa es que sin dinero Copper Mesa no podrá seguir violentando nuestros derechos, ni financiando el caos social en nuestra zona, tal como lo ha venido haciendo desde mayo del 2004 cuando conocimos la existencia de la empresa en Intag. Ésto a pesar que la empresa sub-contrató a una empresa supuestamente agrícola (Schwarz y Drouet) para no perder su presencia en la zona (contrata a ex-funcionarios de la empresa minera). Dicha empresa está calificada para brindar servicios a la industria petrolera.

Hasta lo que sabemos, la decisión de la Bolsa de Valores de Toronto es única en la historia de luchas comunitarias en contra de empresas transnacionales mineras.

Trascendencia.
Sesenta por ciento de las empresas mineras del mundo están inscritas y cotizan sus acciones en las bolsas de valores canadienses, siendo la Bolsa de Valores de Toronto la que más aglutina (1410 empresas mineras). Una de las razones por esta anomalía es la casi total falta de regulación por parte del gobierno, juntamente con la facilidad para inscribir empresas en las bolsas canadienses. La industria minera es excepcionalmente poderosa en Canadá, y pocas veces la Bolsa se ha atrevido a tomar una medida como esta..

Aunque sabemos que la decisión se basó en una o más violaciones de los reglamentos de la bolsa, pesamos que las verdaderas razones son otras (las empresas mineras canadienses constantemente violan dichos reglamentos). Una fue la presión creada por el juicio planteado en Canadá por tres compañero/as inteños en contra de la empresa y la bolsa de Toronto, que creo que fue clave. Las constantes denuncias realizadas por la DECOIN a la Comisión de Valores de Columbia Británica desde 2005, las cuales señalaban manipulaciones fradulenta de la información por parte de la empresa sobre sus proyectos mineros en Intag seguramente fueron claves. Pensamos también que los artículos últimamente publicados en diarios canadienses (en primera plana) sobre el juicio y el asalto de los paramilitares jugaron un papel importante. Y, por último, los documentales sobre la lucha en favor de la vida en Intag que se han presentado en Canadá y varios otros países del mundo, seguramente también ayudaron.

Ahora esperemos que este gobierno de turno no se le ocurra meterse donde dos empresas transnacionales han fracasado.

Share

PINETREE and Copper Mesa Mining Corporation’s Latest Bullish Report

By , October 6, 2009
Share

Dec 11 2009

Pinetree and Copper Mesa Mining Corporation’s Latest Bullish Report

If the quote: -You can never underestimate the intelligence of the American Public- is true, then it is even more true to hold that You can never overestimate the idiocy of the Canadian investment firms.

Yeah, I’m thinking of Pinetree’s latest latest brilliant move to take over Copper Mesa.

Who are these guys anyway, and why would they want to throw away more money into the bottomless pit that is Copper Mesa? (Pinetree had invested several millions from squeaky-clean Canadians in the past in this shipwreck)

Continue reading 'PINETREE and Copper Mesa Mining Corporation’s Latest Bullish Report'»

Share

COPPER MESA SELLING ITS FLOTSAM

By , July 17, 2009
Share

COPPER MESA SELLING ITS FLOTSAM

Apparently Nortec Ventures decided not to buy Copper Mesa’s Ecuadorian flotsam. But the company’s debris is still for sale.

Just what is up for grabs?

In spite of what Copper Mesa claims in page one of the latest Management’s Discussion and Analysis for the three months ending March 31, 2009, the company no longer has concessions in the Intag area. It lost its most “valuable” concessions- including the Junín mining concession, and Chaucha. The Junin concessions Copper Mesa permanently lost in November 2008 and January 2009. These concessions are in the hands of the government and, according to the new mining law, can only be exploited by a national mining company.

Continue reading 'COPPER MESA SELLING ITS FLOTSAM'»

Share

Article 24 and Copper Mesa’s -Nortec doomed venture

By , June 4, 2009
Share

Another Bad Deal in the Works

In the midst of Copper Mesa and Nortec Venture’s deal, and not mentioned in the company’s latest creative reports, is the implication of the Ecuadorian government’s intention of taking over as many old mining concessions- including Copper Mesa’s ex JUNIN concessions, which the company lost in November of 2008
Continue reading 'Article 24 and Copper Mesa’s -Nortec doomed venture'»

Share

Mining ban lift? Maybe, but not for Copper Mesa

By , March 23, 2009
Share

ECUADOR: Mining ban lift, but not for Copper Mesa
Español a continuación

According to Reuters’s November 10th article, Correa’s government is trying to revive the mining sector in the South of the country (with very little luck by the way), but the government is explicit that the nation’s mining plans do not include the Intag area, where Copper Mesa use to have the Junin concessions (the government permanently took the company’s concessions in November of 2008).
Continue reading 'Mining ban lift? Maybe, but not for Copper Mesa'»

Share

TEN QUESTIONS YOU SHOULD ASK ABOUT COPPER MESA MINING CORPORATION

By , January 2, 2009
Share

TEN QUESTIONS YOU SHOULD ASK ABOUT COPPER MESA MINING CORPORATION

1. Q. Does the company have legal title to its much-touted JUNIN mining concessions in Ecuador?
A. NO. On November 12th, the government annulled the titles to the company’s Junin mining concessions as part of the government’s plans to recuperate thousands of mining concessions.. The company also lost titles to other
Continue reading 'TEN QUESTIONS YOU SHOULD ASK ABOUT COPPER MESA MINING CORPORATION'»

Share

More Bad News for Copper Mesa: Company loses all of its Intag mining concessions.

By , December 8, 2008
Share

Espaniol abajo

More Bad News for Copper Mesa: Company loses all of its Intag mining concessions.
– The Mining Mandate also abolished hundreds of other concessions affecting many Canadian mining companies in Ecuader.

Close to 2,300 mining concessions affecting a total of 3.3 million hectares have been extinguished in Ecuador since the Mining Mandate went into effect more than six months ago (see original government news release below). This includes all of Copper Mesa Mining Corporation’s concessions in Intag, according to information published by the Ministry of Mines and Energy.
Continue reading 'More Bad News for Copper Mesa: Company loses all of its Intag mining concessions.'»

Share

Panorama Theme by Themocracy