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Article

20 Aug 2008

Author:
Dow Jones Newswire

Minefinders, Hurt By Protests, May Run Out Of Cash For Mine [Mexico]

Minefinders...warned that because of protesting outside its Dolores mine in northern Mexico the mine's opening could be delayed past a date when Minefinders would have sufficient capital to operate it...The news sent shares down 2.5% to $7.92 in recent trading...In 2006, the Canadian company paid $3.7 million for the use of the land for the next 16 years, but farmers allege it will destroy their livelihood. The protesters allege that Dolores acted unethically when obtaining the land and have displaced a whole community and its natural resources. Dolores maintains that on top of cash payments, it has constructed a new village and infrastructure for the community.