Thanks to a previous owner of K for finding this
There's a good article here on the Kinross FDN negotiations for those who can read Spanish (I'm too tired to translate, so just run it through babelfish if you can't)
http://tinyurl.com/7c7yhyd
The gist of it is, Tye Burt balked at the Windfall Tax, which was set at 70% above a baseline price of $1650/oz. This is AFTER the negotiations were agreed to in principle by both parties last Dec.
Looks like Tye thinks he can play chicken with the govt. of Ecuador...LOL. Their response was to allow one more year to continue exploration at FDN, and if an agreement hasn't been reached by then, it reverts to the state.
Good work Tye. One more year's delay, then what? You think these guys will back down with Fredy Salazar waiting in the wings? Good luck pal. Glad I don't own K anymore.
