South American Silver Corp Mine Not Part of Bolivia 'Recovery' Review; Shares Reclaim 17% From Thursday Fall

By Staff,

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South American Silver Corp. (SAC.TO) are recovering from yesterday's beatdown, with shares rising nearly 17% this morning after the company said it is not part of efforts by mining unions in Bolivia to "recover" control of certain State-owned mines.

SAC shares fell nearly 22% on Thursday following news reports the Bolivian government was considering whether to reclaim management of four mines and place that control under the Bolivian State Mining Corp. (COMIBOL). Those mines were leased to foreign companies -- including one to Pan American Silver (PAA.TO,PAAS) -- in the mid-1990s as part of a privatization process but do not includes SAC's wholly owned Malku Khota project.

Pan American shares are up about 2% to $36.60 each this morning following a 9% drubbing yesterday.

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This article appears in: Investing Commodities
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