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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (9)2/7/2014 9:51:52 AM
From: Goose94Read Replies (2) of 202705
 
Oroco Resource (OCO-V) confirmed owner of Xochipala - Message 29375302

Feb 7, '14 - NR

The Federal Tribunal of Mexico has granted Oroco Resource Corp.'s appeal of the decision of the lower Federal District Court and has ordered that all aspects of the 2011 Guerrero State Court auction of a 50-per-cent interest in the Celia Gene and a 100-per-cent interest in the Celia Generosa concessions (collectively, the Camacho interest) be set aside. The decision of the Federal Tribunal confirms that the company's subsidiary, Minera Xochipala SA de CV, is the sole registered owner of 100 per cent of each of the Celia Gene and Celia Generosa concessions (the Xochipala property) and terminates the competing claim of Avinadain Bautista arising from the court auction of the Camacho interest.

The Federal Tribunal also dismissed the appeal by Mr. Bautista which sought to enforce his claim to the Camacho interest. Upon granting the company's amparo and setting aside the entire court auction process, the Federal Tribunal determined that Mr. Bautista had no legal claim or interest in the concessions and thus had no legal standing to petition the courts.

The decision of the Federal Tribunal is final, with no appeal available. For further detail on the background of this matter, see the company's news release of June 4, 2013, and its most recent management discussion and analysis, which is available on SEDAR.
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