Analysts are not sure what to make of El Salvador’s recent move that saw its central bank sell about 80% percent of its gold reserves last month.
El Salvador Mining News
Six-year-old mining dispute between El Salvador and Vancouver-based miner still seeking a conclusion
A $315 million damage claim.
Company claims the El Salvadoran government failed to issue necessary mining licences for the El Dorado gold project.
Citizens’ groups, backed by the radical leftist party Syriza that is now the second largest group in parliament, have been trying to wreck the project since 2011, when Eldorado was granted its exploration licence.
Country wants the Inter-American Commission on Human Rights (CIDH) to help it stop Goldcorp's Cerro Blanco project.
As a result of increased exploration expenditures, general and administrative costs and arbitration-related expenses, offset by substantially increased gains on the company's derivative liability, the loss for fiscal 2012 was reduced to $1.8 million from $3.8 million or for fiscal 2011.