Letter to Shareholders - June 13th, 2013
13.06.2013 | vom Unternehmen
June 13th, 2013Dear Shareholders:
Re: The Kinross Fruta del Norte announcement Monday June 10th, 2013
Many of our shareholders have been concerned with the possible effect on our company of the above. Clearly on the face of it, the Kinross Gold Corp. announcement does not bode well for international mining companies in the exploration or exploitation of mineral discoveries and extraction in Ecuador.
However, it is our view that it is most prudent for our shareholder value if we wait and see how Ecuador’s Government and Mining Ministry addresses these novel issues. Until their position is clear, we will continue to prepare for the next drill program, but only further opex expenditure at the current rate will be incurred, until we are able to advise shareholders on the balance of risk and reward as well as we can reasonably assess it.
We acknowledge the great patience of our shareholders in a difficult environment over the last few years, in Ecuador.
We expect to update you all in the next 30 days, once Congress has advised on the proposed revisions to the windfall tax laws and Ecuadorian formal reaction to the above Kinross announcement.
We seek Safe Harbor.
Yours sincerely,
“Stephen Stow”
Stephen Stow, President and CEO
Odin Mining and Exploration Ltd.
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This release may include certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements.
Actual results or developments may differ materially from those in forward-looking statements.
Odin Mining and Exploration Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.