Post by fastwalker on May 28, 2005 23:32:19 GMT -5
Durango Oro is the newest addition to the
« Thread started on: Today at 11:23pm » <br>
--------------------------------------------------------------------------------
www.durangooro.com/index.asp
Owned By USCA
Durango Oro is the newest addition to the US Canadian Minerals family. The mine site is the most westerly site of the Portovelo/Zaruma vein structure and is located approximately 20 miles from Portoviejo. It's veins yield a 1 to 5 gold silver ratio. We anticipate great results from this under developed property.
The tribes in the northern highlands of Ecuador formed the Kingdom of Quito around 1000. It was absorbed, by conquest and marriage, into the Inca empire. Spanish conquistador Francisco Pizarro conquered the land in 1532, and through the 17th century a Spanish colony thrived by exploitation of the Indians. The first revolt against Spain occurred in 1809. In 1819, Ecuador joined Venezuela, Colombia, and Panama in a confederacy known as Greater Colombia.
When Greater Colombia collapsed in 1830, Ecuador became independent. Revolts and dictatorships followed; it had 48 presidents during the first 131 years of the republic. Conservatives ruled until the revolution of 1895 ushered in nearly a half century of Radical Liberal rule, during which the church was disestablished and freedom of worship, speech, and press was introduced. Although it was under military rule in the 1970s, the country did not experience the violence and repression characteristic of other Latin American military regimes. Its last 30 years of democracy, however, have been largely ineffectual because of a weak executive branch and a strong, fractious Congress.
Peru invaded Ecuador in 1941 and seized a large tract of Ecuadorian territory in the disputed Amazon. In 1981 and 1995 war broke out again. In May 1999, Ecuador and Peru signed a treaty ending a nearly 60-year border dispute involving the stretch of Amazon jungle.
In 1998, Ecuador experienced one of its worst economic crises. El Niño caused $3 billion in damage; the price of its principal export, oil, plunged; and its inflation rate, 43%, was the highest in Latin America. In 1999, the government was near bankruptcy, the currency lost 40% of its value against the dollar, and the poverty rate soared to 70%, doubling in five years. The president's economic austerity plan was protested with massive strikes in March 1999.
President Jamil Mahuad was overthrown in Jan. 2000, in the first military coup in Latin America in a decade. The junta gave power to the vice president, Gustavo Noboa. Faced with the worst economic crisis in Ecuador's history, Noboa restructured Ecuador's foreign debt, adopted the U.S. dollar as the national currency, and continued privatization of state-owned industries, generating enormous opposition. In Feb. 2001, the government cut fuel prices after violent protests by Indians, who are among Ecuador's most disadvantaged people.
Within two years, Ecuador's economy had rebounded from the brink of collapse. The economy grew by 5.4% for 2001, the highest rate in Latin America. Inflation was 22%, down from 91% in 2000, and the budget was balanced. But chronic corruption among senior government officials, as well as among the courts and the judiciary, has continued.
Lucio Gutiérrez, a leftist colonel best known for orchestrating the 2000 coup against President Jamil Mahuad, was elected to the presidency in 2003 on an anti-corruption platform. He became Ecuador's sixth president in seven years. His attempts to introduce austere fiscal reforms, however, quickly alienated his political base, and numerous national strikes took place over 2003. But some economic improvements were seen in 2003: the GDP grew by an estimated 2.7%, and inflation dropped to a remarkable 6%.
In November, President Gutiérrez narrowly escaped impeachment for the alleged misuse of government funds. In December he removed 27 of the 31 justices of the Supreme Court, claiming the judges had supported the impeachment attempt and were sympathetic to the opposition parties. He replaced them with judges who supported the government. In April, the new Supreme Court overturned corruption charges against an exiled former president, Abdala Bucaram, who was an ally of Gutiérrez Outraged by what was seen as Gutiérrez's attempts to control the judiciary branch, tens of thousands of Ecuadorians took to the street and protested. The protesters accused Gutiérrez of corruption, mismanagement, and of an authoritarian style of governing, and polls indicated that just 5% of the people still supported him. On April 20, Gutiérrez was ousted by the Ecuadorian Congress, and his estranged deputy, Alfredo Palacio, took over as president. He became the country's seventh president in nine years.
Durango Oro
c/o US Canadian Minerals, Inc
4955 S. Durango Dr. Ste. 216
Las Vegas, NV 89113
ph: 702-433-8223
fx: 702-873-8917
email: operations@durangooro.com
s/franko
« Thread started on: Today at 11:23pm » <br>
--------------------------------------------------------------------------------
www.durangooro.com/index.asp
Owned By USCA
Durango Oro is the newest addition to the US Canadian Minerals family. The mine site is the most westerly site of the Portovelo/Zaruma vein structure and is located approximately 20 miles from Portoviejo. It's veins yield a 1 to 5 gold silver ratio. We anticipate great results from this under developed property.
The tribes in the northern highlands of Ecuador formed the Kingdom of Quito around 1000. It was absorbed, by conquest and marriage, into the Inca empire. Spanish conquistador Francisco Pizarro conquered the land in 1532, and through the 17th century a Spanish colony thrived by exploitation of the Indians. The first revolt against Spain occurred in 1809. In 1819, Ecuador joined Venezuela, Colombia, and Panama in a confederacy known as Greater Colombia.
When Greater Colombia collapsed in 1830, Ecuador became independent. Revolts and dictatorships followed; it had 48 presidents during the first 131 years of the republic. Conservatives ruled until the revolution of 1895 ushered in nearly a half century of Radical Liberal rule, during which the church was disestablished and freedom of worship, speech, and press was introduced. Although it was under military rule in the 1970s, the country did not experience the violence and repression characteristic of other Latin American military regimes. Its last 30 years of democracy, however, have been largely ineffectual because of a weak executive branch and a strong, fractious Congress.
Peru invaded Ecuador in 1941 and seized a large tract of Ecuadorian territory in the disputed Amazon. In 1981 and 1995 war broke out again. In May 1999, Ecuador and Peru signed a treaty ending a nearly 60-year border dispute involving the stretch of Amazon jungle.
In 1998, Ecuador experienced one of its worst economic crises. El Niño caused $3 billion in damage; the price of its principal export, oil, plunged; and its inflation rate, 43%, was the highest in Latin America. In 1999, the government was near bankruptcy, the currency lost 40% of its value against the dollar, and the poverty rate soared to 70%, doubling in five years. The president's economic austerity plan was protested with massive strikes in March 1999.
President Jamil Mahuad was overthrown in Jan. 2000, in the first military coup in Latin America in a decade. The junta gave power to the vice president, Gustavo Noboa. Faced with the worst economic crisis in Ecuador's history, Noboa restructured Ecuador's foreign debt, adopted the U.S. dollar as the national currency, and continued privatization of state-owned industries, generating enormous opposition. In Feb. 2001, the government cut fuel prices after violent protests by Indians, who are among Ecuador's most disadvantaged people.
Within two years, Ecuador's economy had rebounded from the brink of collapse. The economy grew by 5.4% for 2001, the highest rate in Latin America. Inflation was 22%, down from 91% in 2000, and the budget was balanced. But chronic corruption among senior government officials, as well as among the courts and the judiciary, has continued.
Lucio Gutiérrez, a leftist colonel best known for orchestrating the 2000 coup against President Jamil Mahuad, was elected to the presidency in 2003 on an anti-corruption platform. He became Ecuador's sixth president in seven years. His attempts to introduce austere fiscal reforms, however, quickly alienated his political base, and numerous national strikes took place over 2003. But some economic improvements were seen in 2003: the GDP grew by an estimated 2.7%, and inflation dropped to a remarkable 6%.
In November, President Gutiérrez narrowly escaped impeachment for the alleged misuse of government funds. In December he removed 27 of the 31 justices of the Supreme Court, claiming the judges had supported the impeachment attempt and were sympathetic to the opposition parties. He replaced them with judges who supported the government. In April, the new Supreme Court overturned corruption charges against an exiled former president, Abdala Bucaram, who was an ally of Gutiérrez Outraged by what was seen as Gutiérrez's attempts to control the judiciary branch, tens of thousands of Ecuadorians took to the street and protested. The protesters accused Gutiérrez of corruption, mismanagement, and of an authoritarian style of governing, and polls indicated that just 5% of the people still supported him. On April 20, Gutiérrez was ousted by the Ecuadorian Congress, and his estranged deputy, Alfredo Palacio, took over as president. He became the country's seventh president in nine years.
Durango Oro
c/o US Canadian Minerals, Inc
4955 S. Durango Dr. Ste. 216
Las Vegas, NV 89113
ph: 702-433-8223
fx: 702-873-8917
email: operations@durangooro.com
s/franko