Expert: A Group of People Make Money in Toronto Stock Exchange At Expense of Amulsar Project

Expert: A Group of People Make Money in Toronto Stock Exchange At Expense of Amulsar Project


Because of its geographical location Amulsar mining project will affect the whole population in Armenia, and not only one residential area, as geographer, PEF member Levon Galstyan said, “Amulsar gold mine is located in the middle of three important catchment basins. One of them is Vorotan river basin, which, as a matter of essence, supplies water to whole Syunik Region. The other is the Arpa River, the basin of which supplies water to whole Vayots Dzor Region. And the third is Lake Sevan, as two canals, which pass through the mining area, transfer water to Lake Sevan,” Levon Galstyan said. According to him, annually 10 million tons of ore processing will result in generation of over 100 million ore wastes in the form of a tailing dump. Besides, 350 million tons of barren rock will be generated. “It doesn’t matter how many times Lydian states that no drop water will be mixed with the barren rock, after opening the mine all the heavy metals in the ore will be washed and will get mixed in the surface and underground water in different manners…

Interesting measures are carried out for fundraising. Amulsar reserves were assessed around 17 tons in the first stage in 2009, then after a half year there reserves were revalued making them 56 tons, and now they speak about 100 tons. All this gives an opportunity to some people to make money in Toronto stock exchange. When Lydian was listed in the stock, its share cost one dollar, then its price went down by 20 cents in half a year, then after the statement about so much gold in Amulsar, share price went up to 3 dollars, now it went down again by 30 cents,” Levon Galstyan said.

17:23 December 04, 2015


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