2008 Silicon Investor Stock Picking Contest - Metals Message Board

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Gold/Mining/Energy : 2008 Silicon Investor Stock Picking Contest - Metals

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From: hubris33	12/24/2008 9:12:38 AM
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Life gets tenuous at the top.... RE: SUE.to ---- either this thing gets resolved by year end and the stock rockets higher or I'll fall deeply into the pack as SUE heads for 5-cents once they have no claim on assets. C'mon lady luck! Shahuindo Litigation On November 13, 2008 the Supreme Court of Peru heard Sulliden's appeals in three separate proceedings in the legal dispute relating to Sulliden's ownership of the Shahuindo gold/silver property in Peru. The most significant part of the hearing before the Supreme Court was the appeal taken by Sulliden against the decision of the Commercial Chamber of the Superior Court of Lima dated August 9, 2007, granting Algamarca's Nullity Petition against the Arbitration Decision of July 2006, which had declared that Sulliden had fully met the terms and obligations of the Shahuindo Transfer Contract dated November 6, 2002 and had properly acquired the property, and declaring null and void the Arbitration on the technicality that Algamarca had not properly agreed to arbitration. The Supreme Court also heard Sulliden's appeal against the decision of the Superior Court of Cajamarca dated January 18, 2008, confirming the decision of the Civil Judge of San Marcos dated January 20, 2006 granting an injunction against certain officers of Sulliden from entering the Shahuindo property. On December 2nd, 2008 the Supreme Court announced that it had allowed Sulliden's appeal on the injunction. Sulliden expects that a decision in one or both of the remaining proceedings may be issued before year end. Sulliden remains confident that the outcome of the appeals will be favorable to Sulliden. However, notwithstanding the hearing of the appeal by the Supreme Court, Sulliden is continuing in negotiations with Algamarca on a possible settlement of the Shahuindo litigation and dispute. These negotiations have not yet resulted in a resolution and there can be no assurance that the negotiations will reach a satisfactory conclusion. biz.yahoo.com H3

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