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Politics : Gold and Silver Stocks and Related Commentary

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To: xenon who wrote (7024)	2/20/2005 10:49:26 PM
From: bmccra	Read Replies (1) of 18308

I believe Metallica had an agreement in place with the Ejido and did have good community relations, but unfortunately that agreement was then nullified: "the Agrarian Court residing in the State of San Luis Potosi has found in favor of a contesting group and nullified the Lease Agreement that MSX entered into in 1997 with the Ejido of Cerro San Pedro for the land MSX is using for its heap-leach gold and silver project. Significantly, however, the court did not rule that MSX had to either cease construction of its project or vacate the ground. The court nullified the meeting and the minutes of the meeting in 1997 where the Lease Agreement was approved, as well as nullifying the authority of the ejido representatives who executed the Lease Agreement in that same year. Both MSX and the current possessors of the ground, who are the original ejido members that entered into the 1997 Lease Agreement, are in the process of appealing this decision to a higher-level Federal Court and are seeking a court order freezing the Agrarian Court decision thereby permitting MSX to continue to use the ejido land." globeinvestor.com b

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