Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Tuesday, November 07, 2006

Are Better Winds Blowing in Bolivia

Investors have been running like hell from Bolivia for over a year – and rightly so – because that county has been nationalizing natural resource companies.

Now, Coeur d’Alene Mines – which has a big project in Bolivia – says things are changing for the better.

From MineWeb…

Coeur d’Alene Mines President and CEO Dennis Wheeler told analysts Monday that he believes that the climate in Bolivia is going to remain favorable for foreign investment with no current plans to hike taxes.

Really? So stories like this aren’t harbingers of bad things to come? Well, THAT’S a relief!

Hey, Wheeler has been to Bolivia recently – I haven’t – so he probably knows much better than me. Either that, or Coeur d’Alene Mines, which is throwing more money on top of an already substantial commitment in Bolivia, is wearing the investment equivalent of “beer goggles” – and the company may be surprised when it wakes up to something its buddies wisely avoided.

Good luck to Coeur d’Alene. I wish them the best of luck, and I’ll keep my eyes peeled for confirmation of Bolivia’s change of heart.

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