Michael, when I look at my post (#18), I found that I still did not
talk about the land position in Marmato too clearly. So I should
clarify.
GRM has 15463 hectares of land in South Marmato. It has
19595 Hectares of land in North Marmato.
In the Central Marmato, where all the confusion arises, it
has 2436 hectares of land. Which includes the following areas :
Echandia, La Maria, Chaburquia, La Llorona, San Franciso,
La Gloria, San Carlos, Villa Mora and 1627. The Enchandia is
where the 3.7 m oz inferred blocks resides. All the above
areas GRM has rights from bottom to top.
In addition, it has the right to Cien Pesos -- the top part only.
Mineros Nacionales, which is 48.25% owned by GRM,
has the bottom part of the Cien Pesos. In addition,
Miernos Nacionales has a piece of land, about 830 hectares,
contiguous, and south of La Carlos, west of Enchandia and
North of Villa Mora. Mineros Nacionales has the top to bottom
part of this piece of land. The underground mine of Mineros
Nacionales is in this land.
That's why you can say Mineros Nacionales's land is below (only
the Cien Pesos portion) or west or south or north of GRM's land in Central Marmato.
The Map 1 - Map 3 in GRM's due diligence package shows the land
situation very clearly.
Eric |
