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Pacific Rim Mining raises doubts over survival amid legal battle with El Salvador

Friday, July 23, 2010


Troubled Canadian explorer Pacific Rim Mining said its ability to continue as a going concern is dependent on its ability to obtain additional funding.
 
The company, which has no source of revenue and has had negligible sales for the past three years, said its primary asset El Dorado gold project in El Salvador was put on cessation in July 2008 following opposition by anti-mining activists.
 
The company had filed for international arbitration last year, seeking that the government return at least $77 million in investment due to the delays imposed on its project.
 
Original source: Reuters