QURI in Ecuador with Kinross and Corriente expect news out soon - Sourced PennyStockChaser.com

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Today’s news alerts include: QURI

www.pennystockchaser.com - QURI in Ecuador with Kinross and Corriente - QURI is in great company - Expect news from QURI and move from .05 to past .24

QURI (http://www.quriresources.net/) is on our alert list for members @ .05.  The stock was up 28.2% on volume of 6,655,100.  This volume was another record for QURI.

WHEN VOLUME HITS RECORDS ON A STRONG UPTICK, YOU USUALLY SEE MORE STRONG GAINS.
http://www.stockscores.com/quickreport.asp?ticker=quri

The hold high on QURI was .24 and we think the stock should easily blow past .24 on strong news.

QURI is in great company in Ecuador.  Two Canadian Mining giants in listed on the NYSE have HUGE PROJECTS in ECUADOR.

Corriente Resources Inc. (http://www.corriente.com/) and Kinross Gold Corp (http://www.kinross.com/) are mining majors.

The fact that they expect to get huge results out of Ecuador gives us a good feeling about the possible success of QURI hitting big in Ecuador.

STUDIES ESTIMATE THAT THERE ARE AS MUCH AS $110 BILLION IN MINING RESERVES IN ECUADOR.

DJ UPDATE: Ecuador Says Corriente, Kinross Can Resume Mining
Tue. March 17, 2009; Posted: 04:00 PM
 
QUITO, Mar 17, 2009 (Dow Jones Commodities News via Comtex) -- ETQ | Quote | Chart | News | PowerRating -- (Adds more comments from Serrano and representatives of Corriente and Kinross.)

The Ecuadorian government has authorized Corriente Resources Inc. (ETQ) and Kinross Gold Corp. (KGC) to resume their operations after a nearly 11-month hold on mining activity in the country.

"We have notified both companies, and they can resume activities," Undersecretary of Mining Jose Serrano told Dow Jones Newswires on Tuesday.

Last April, the special assembly writing Ecuador's new constitution froze mining-sector activity by revoking around 80% of mining concessions and by suspending the other 20% for 180 days.

On Monday, local units of Corriente and Kinross received an official notice from Mining and Oil Minister Derlis Palacios authorizing them to resume operations.

Both companies must update their environmental-impact studies and licenses for water, and renegotiate their contracts with the government in line with a new mining law approved last January.

The government plans to start individual negotiations with all mining companies to sign extraction deals.

The new mining law requires a minimum of 5% royalties on sales, limits mining concessions to 5,000 hectares each,and includes a 25-year cap on contracts.

The new law also allows companies to have up to eight years to explore for minerals and another two years to evaluate a deposit's economic viability.

The law also establishes two types of contracts: exploitation and services, but it doesn't specify the conditions of each contract.

Mining output in Ecuador is minimal. Large-scale projects have typically centered on nonmetallic minerals such as cement.

The government has said the new mining law will open the door to a potentially lucrative and underdeveloped industry in the country and that the country's mineral potential could amount around $110 billion.

Local units of Corriente Resources, Kinross, International Mineral Corp. (IMZ.T), Iamgold Corp. (IAG), Spirit Exploration Inc. (SPXP) and Mariana Resources Ltd. (MARL.LN), among others, currently have mining concessions in Ecuador.

Serrano, the mining undersecretary, said that all concessions will be revised on a case-by-case basis by various ministries.

The renegotiation of each contract will start when each company finishes an advanced stage in exploration and enters into the economic evaluation phase.

"We cannot advance a date for the renegotiation, it will depend on each company, on their investment levels and their work," Serrano said. "We need good and technical information about the mining deposits of each company."

Dominic Channer, president of Aurelian Ecuador SA, the Ecuadorian unit of Kinross, said the company will update its studies within two months.

Channer estimates that the first production could begin in 2012.The first phase of production could require an investment of $500 million to produce 500,000 ounces of gold per year.

Kinross plans an investment of around $30 million in Ecuador this year in its Fruta Del Norte gold-silver deposit, which has estimated reserves of 13.7 million ounces of gold and 22.4 million ounces of silver.

EcuaCorriente SA, a subsidiary of Canada's Corriente Resources, explores for copper and silver in the Mirador and Panantza-San Carlos projects, which have estimated deposits of around 25 billion pounds of copper.

Ian Harris, Corriente's general manager in Ecuador, said both projects will demand an investment of at least $1.7 billion.

Harris said that his company is ready to renegotiate its contract with the government.

"When the government is ready we are also ready to renegotiate our contract," Harris said.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com

In fact Corriente Resources  Inc. (http://www.corriente.com/) is moving FAST FORWARD in Ecuador with  recent news on a big project.
http://www.stockwatch.com/newsit/newsit_newsit.aspx?bid=U...

Buying QURI at these levels make sense to us.  WE think members who position themselves here will do very well as the stock continues to move higher.

Please remember to do your due diligence on QURI.

For more information on QURI, please join us @ www.pennystockchaser.com.


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