GoldQuest reports new gold discovery in Dominican projects

[Keith R]

Originally Posted by dms3611

Thats why more mining would be great because the resources for many things are here and should be opened up if completed responsibly.

And that's the key, in my book.

[aegap]

Hate to say it but I have to....you just don't know what you are talking about. Show me the mines where they are currently extracting gold, silver, or metals in the DR.......with exception of Bonao.

The rest is all talk. Also, please do not compare the little holes in the ground for Amber and Larimar as any type of mining operation. Thats mom and pop and is not metals mining....nor really any type of organized mining.

I didn't say they were extracting nor did I boast about little holes in the ground, and my comment was not directed at you.

I'm certainly no expert, but I'd say way much more than just talk has been done with regards to Pueblo Viejo.

[A.Hidalgo]

Does the following fit into this conversation....

Originally Posted by A.Hidalgo

Will the country get a fair share of its own natural resources to be able to combat social inequalities? Or perhaps this is another project to line the pockets of some politicians. This according to Leonel is the largest private investment in Dominican history. I wish I could be optimistic, but this is leaving a bad taste in my mouth.



TheStar.com | Business | Barrick Gold to reopen Dominican Republic mine

[Keith R]

yes, particularly since a lot of questions have been raised about Barrick's environmental record elsewhere. They faced intense opposition in Argentina and Chile from NGOs, but somehow I doubt they'll get the same level of scutiny in the DR.

[PICHARDO]

I completely agree that we disagree in many things posted here...

Also agree, that we fully agree in others as well...

Mining is not only about precious metals or anything that means a 100% top notch mining operations. Just basic mining, at its worst I may add...

Any mining operation in the world by any big green company produces ills related to the actual extraction of those goods from the ground or terrain where it’s embedded into. We can't expect the DR to be following any better than other under-developed countries in this field; if anything, the DR has been very lucky so far that major unfixable or too costly to repair environmental damages were conducted in the country, like in other places very well developed...

Mining be it a rustic hole in the ground wide enough for a person to dig out the goods or a 21st century technological marvel of the times, remains pretty much the same goal: To extract and commercialize the goods.

I understand your point 100% about the scale of the operations in the DR I pointed out; but if anything, one must understand that until recently the DR lacked an administration with the know-how personnel to exploit these natural resources with some level of responsibility.

We could say that staff at certain gov entities is educated in the fields at which posts they head. This from the top down, unlike past procedures where expertise and areas of knowledge were indiscriminately skipped in favor of party control and nominations.

[PICHARDO]

Originally Posted by PICHARDO

The problem is not the oil industry but the kind of oil found so far...
It costs a bundle to refine this type of oil found in the DR into usable gasoline, given that there's zero industry for an oil market in the DR; the initial investment to produce and market that oil runs too high in regards to the projected ROI for the investors to profit short or mid term.

I was kind of ignorant about the findings so far in the DR before my chat with those two guys, but they seem confident enough to be expending big bucks in exploration and site mining in the DR so far...

The biggest problem that held back any serious exploration with deep pockets before in the DR was basically the demands from the previous administrations on the shares of any such industry in Dominican soil. The current administration is doing a much better job with greater flexibility with these companies; don't be fooled into thinking that the recent events regarding the DR looking to buy out Shell from the refinery is not part of a bigger plan to this end...

To enforce this opnion:

Refidomsa will distribute 100% of local demand of avtur

El Dinero - Refidomsa distribuirá 100% de demanda local de avtur

In short, the gov decided to take over the supply chain of fuel to all airports in the DR... Which means that it will create a subsidy to this market, eventually to have airliners take advantage of cheaper fuel by making the DR a transit hub to the Caribbean and Europe...

And you ask: How can it plan such a thing given the cost of fuel? Think the DR will own the only refinery in existence in the country and will take 100% advantage of the Venezuela oil accord to pass the immediate savings to the airliners. The subsidy money will be easily recapped via the burst in travel taxes applied to the herds and the extra income created from the boost to the local economy feeding back the gov with the existent internal VAT in place.

God! This Leonel guy knows WTH his doing!!!!

Brilliant!!!!!