El Misti in compliance with Peruvian law at Maria Eugenia
El Misti Gold Ltd EMG
Shares issued 40,590,777 1999-04-14 close $0.13
Thursday Apr 15 1999
Mr. John Huguet reports
The company has received the official notification by the director general of the Public Registry of Mines for the UTM co-ordinates of the company's Maria Eugenia mining concession as being completely in accordance with the rules as established in Article 3 of Law 26615 Ley del Catastro Minero National (Law of the Official National Mining Plan).
This is a significant victory for all the shareholders of El Misti Gold and an additional demonstration of the rule of law and the even-handed proper application thereof by the Peruvian government and its agencies. The immediate next steps to be taken by the company's wholly owned Peruvian subsidiary, El Misti Gold S.A., are the publication of the notification of the resolution in the El Peruano, the official gazette, on April 22 and 23, 1999, and the request for the official title of Maria Eugenia Demasia on April 24, 1999. There is now a clear legal process which has been signed off by all affected parties.
Further to news in Stockwatch March 29, 1999, March 1 1999, and a news release of Sept. 30, 1999, the new 1,300 hectare (Valle de Sinchao No. 1, 2, 3 and 4) exploration claims now take on a significantly stronger position for El Misti Gold. Any old or out of date claims on any area within the Valle de Sinchao No. 1, 2, 3 and 4 exploration rights, which are not fully and officially in compliance with the applicable mining procedure, may be declared abandoned or extinct. If this declaration of abandonment or extinction were to take place, then all the mining rights would remain with El Misti Gold S.A., and in accordance with Peruvian mining law, all details of all work, including all exploration and or mining activities performed on the abandoned or extinct claims within the Valle del Sinchao No. 1, 2, 3 and 4 area, would be turned over to El Misti Gold S.A. Once received by El Misti, all information would then be subject to proper due diligence and review. However, a review of information already in the public domain on the affected companies could provide an understanding of the significance of this possibility.
The company's wholly owned Sinchao project is in Northern Peru, 450 kilometres north of Lima and 30 kilometres from the Yanacocha mine, Peru's largest gold producer.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
old url (better for printing)
Now if you read the last paragraph here where they state old claims expiring and EMG getting all rights you should then refer back to my January post where i discussed this.....
very interesting...i think i might of been right..only thing is that EMG is maybe releasing this news in a very drawn out manner so as to say "Hey. look what we have in one of our claims...we have an expired Southern Peru Mining deposit
i am just speculating but if you read my january post (9thi think) you may see what i am comparing this too
i will wait and see
intersting eh
and maybe even exciting
but if it is true how did i know 5 months before everyone
probably not but sounding more like what i heard every day
as always
Alastair |
