Eco Oro Minerals Corp C.EOM

How much longer will this drag on?

[rdpsims]

Honestly, this has been the worst painful investment and like 15 years of my life.

any idea or guess when we'll get our money?

[oldtimer42]

Painful for all of us rdp, but here are things at play. We have the arbitration decision in our favour, the Government decision on the Paramo elevation is looming and EOM has made it clear that they are open to a negotiated settlement. All of these factors are open to the board of directors who are subject to a news blackout, so nothing is forthcoming from them. The arbitration board has always

[rdpsims]

Ok thank you. Seems like everytime we expect movement nothing happens and our company directors keep sucking money from the company.

[TiredofWating]

While I agree that the timing is closing in ("soon" is a relative term, however, given the years that this has been in dispute), I caution about the settlement.   You are correct about the directors.   The distribution waterfall for this will leave shareholders with about only 5% of the settlement or about 20 cents per share.    Should a negotiated

[oldtimer42]

I agree with the most of your comments Tired, but not your math. The CVRs ate up 90% of any ICSID award leaving 10% for shareholders minus some bills probably, but 20 cents a share is quite light. I have no idea what the award would be but at least $50 million USD for the shares would result in a payout of about 50 cents USD per share based on the 106 million shares outstanding. It is unfortunate

[TiredofWating]

I hope  you are right.   At one time, it seemed shareholders would get 10%, which on a $700M USD settlement, would work out to about 70 cents USD or $1 CAD.  Right now, those "bills" and additional payments to directors suggests to me no better than about 5% of the settlement or 35 cents USD.    So fair enough.... 20 cents may be a little light.  

[oldtimer42]

My opinion only Tired, if there is a buyer I cannot see it happening without the CVRs being converted to shares. Since the CVRs are equivalent to 90% of EOM net value, the CVRs would be converted to shares so the number of outstanding shares would rise to about a billion shares including the current 106 million shares, So us shareholders would retain our 10% portion. Any other method would be a

[TiredofWating]

Assuming a $700M price, a 10% to shareholders would be $70M/110M shares is about 70 cents/share.  I'd be content with that.

[MacBook]

With gold at $2000 a settlement would make EOM more valuable than $700M to Minesa. I believe the CVR caps out at $460M. There could be plenty there for equity holders.

[TiredofWating]

Thats interesting....  I didnt know about the CVR cap.   Well, in that case, let's hope for a Minesa buyout.