What the IFC (World Bank Group) once stated !In 2009 I made up my investment decision about Greystar/ Eco Oro. In that time we had the IFC Project Number 27961 and the IFC stated on its World Bank Group Webpage
https://disclosures.ifc.org/project-detail/ESRS/27961/greystar Quote:
Project Description
Greystar Resources Ltd. (“the Company”) is a TSX and AIM listed junior mining company that owns 100% of the Angostura gold and silver exploration project (the Project”) near Bucaramanga, in the Santander region of Colombia. Greystar has acquired concessions covering approximately 30,000 hectares over a 15-year timeline and during this time has spent approximately C$95 million in exploration and concession acquisition/maintenance costs.
As of December, 2008, the company had completed an intensive drilling program yielding a resource estimate of 11.6 million ounces of measured and indicated gold in 330.9 million tonnes of material grading 1.09 grams gold per tonne and 3.47 million ounces of inferred gold in 90.8 million tonnes grading 1.11 grams gold per tonne, making it one of the world’s largest undeveloped gold resources.
The company is now commencing with a bankable feasibility study (“BFS”), environmental and social impact assessment (“ESIA”), and other associated work, with the goal of developing the mine in late 2009/early 2010.
Overview of IFC's Scope of Review
The team visited Colombia in January 2009, focusing on Greystar’s Angostura mining exploration project in the Santander Department. The field trip involved a review of documents at the Greystar offices in Bucaramanga, an inspection of the potential mine site, potential sites of mining and processing infrastructure, and ancillary facilities (including the access road); and discussions with Company representatives, environmental and social consultants, government regulatory authorities, and other stakeholders.
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Markings added by me.
The project became in Colombia a project of "National Interest". It seems to me that unfortunately several years later it became a project of interest for the Colombian shadow government, the organzied Crime scene in Colombia. And now we are here and I hope the Tribunal will not support the de facto expropiation of our project ("...one of the world largest undeveloped gold resource...") BTW: the said webpage from the IFC, World Bank Group is still available.