we got mail ! notice received ?, page-19

a little digressioninto what can happen to a co with a rich resource (in this case ZARUMA) that is tempting to a big co like glencore. referring to the ignoble history of glencore's founder, the writer wrote:

quote
Since making a few comments about Glencore at the Minesite Forum last week I have had another think following a conversation with Sam Hutchins, a very shrewd fund manager specialising in mining stocks whom I have known for a long time.

Sam is one of those people who listens patiently to an argument before tearing it to bits. But he does it so gently that you scarcely notice your previous views have been turned by 360 degrees. He agreed, for instance, that it is bound to colour one's view of a company when its founder, Marc Rich, was on the FBI's Most Wanted List, along with Al Capone and a few others, for tax evasion and an oil trading scam. In fact he might still be on it had it not been for President Clinton who pardoned him on his last day in office in January 2001.

He also agreed that Glencore had a reputation for secrecy and ruthlessness, pointing out that after being on the run in Switzerlandrom 1983 to 2001 Marc Rich hardly wanted to attract attention. As to ruthlessness, Sam listened closely to my story of how Glencore had been a partner in a joint venture with Canadian listed Zaruma Resources. It had, allegedly, assured the junior company that its contribution towards funding development of the Luz del Cobre copper project in Mexico was in hand. Suddenly it was withdrawn and this left Zaruma Resources dangling in space while Glencore attempted to get full control of the project for zilch. unquote.

perhaps WM's caution on the timely release of salient info such as jorc reports n other resource data is justified.