earthquakes in chile

From the Australian


"NO doubt the people at Rey Resources (REY) would have been feeling yesterday that they had dodged a bullet.
A week ago, the company sold its Chilean copper prospects to China Yunnan Copper Australia (CYU) in order to concentrate on its Canning Basin coal interests. It looks as if the mining industry has not suffered too badly in the earthquake, but no doubt Rey might have had trouble getting the papers signed if the deal was to have been consummated this week (there is a precedent, outlined in the next item).

And no doubt shareholders of companies operating in Chile will be looking for reassuring announcements today that all is well.

Those affected include battered Admiralty Resources (ADY) trying to get its Chilean iron ore projects going; shareholders will want to know if the joint venture discussions are still on track."

Yes I can see how this will have a devastating effect on ADY. There is bugger all happening so the effect will be about the same - bugger all.