Letter to the editor: Dryblower remembers Marengo and the day George Soros broke the bank

Following yesterday’s Dryblower column on George Soros and his investment in Marengo Mining, MiningNews.net has published a reader’s response to the column.

I note that reference was made to Marengo Mining Ltd in today’s edition of Mining News.
In regard to the article by Dryblower on George Soros I would like to clarify a number of points.
In September 2009 Quantum Partners LDC (a member of the Soros Group) acquired a 19.9% stake in Marengo Mining, by subscribing $A10 million to a $A22 million institutional placement, raised in both Australia and Canada.
Marengo Mining is also listed on the Toronto Stock Exchange and has been since April 2008, in addition to its listings on the Australian Securities Exchange and the Port Moresby Stock Exchange (PNG).
Marengo Mining’s Yandera Project is located in the Independent State of PNG and, as such, will not be affected by the federal government’s proposed super profits tax.
Regards
Les Emery
Managing Director
Marengo Mining
Letters to the editor are always welcome. Please keep them short. Some submissions may need to be edited.

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