RE:RE:RE:RE:CB Gold acquires 126 hectares in California district MacBook wrote: sock, your bot like response to any reference galway is interesting.
It takes two to have a market. You have your view, some of us have the opposite. I hope you sold all your glw by now, if not some of us are on the bid today - go ahead and unload.
hey dipsh_t, you didn't answer my question.
q-what does galway have in colombia?
a-NOTHING
Here is the release...stop your BS
| | February 24, 2016
Galway Gold Comments on Colombia's Constitutional Court Rescinding Mining Operations in the Paramo
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| | Toronto, Ontario -- February 24, 2016 -- Further to its news release dated February 10, 2016, Galway Gold Inc. (TSX-V: GLW) ("Galway Gold" or the "Company") announces that the Colombian Constitutional Court (the "Court") has published its ruling, which deems certain provisions to the National Development Plan (Law 1753) issued in July, 2015, in respect of exemptions to mining operations in areas of Colombia considered to be pramos (high altitude eco-systems) to be unconstitutional. Prior to the Court's new ruling, mining titles issued before 2010, such as Reina de Oro, were allowed to continue to mine. As a result of the Court's new unfavorable ruling, mining in all pramo eco systems throughout the country has been declared to be damaging to the pramos and to the water supply. As such, all mining and petroleum operations in the pramos will be ordered to stop. Moreover, according to the new ruling, the Company will not be able to transfer title of the Reina de Oro project and the mining permit will no longer be valid. Click here for a copy of the Court's ruling.
The main consideration of the court appears to be the protection of the pramos, which provides approximately 70% of the country's water supply. According to industry sources, there are 36 pramos in Colombia and at least 350 titles in pramo areas. The court appears to be suggesting that mining affects the quantity and quality of water the area produces. The court has also declared that public interests supersede private interests, which eliminates the ability of the Company to sue the Colombian government for damages.
Due to the ruling of the Court, mining activities in Vetas' Reina de Oro area are expected to be stopped. Galway Gold will study the legal effects of the Court's ruling on the option agreement, the pending arbitration award in favor of the Company, and the subsequent embargo of the title that is currently in effect. Management will proceed based on the advice of local Colombian counsel as well as Canadian counsel in order to move forward in an informed manner. |