Eco Oro Minerals Corp C.EOM

Submission on Costs

[COCornelius]

... we're filed Fri. Mar 8th.

[NaturalCurrency]

Wow. That was out of the blue. What does it mean? I thought the court was to decide on quantum of cost. Why do the parties have to do any submission at this point? March 8, 2024  Each party files a submission on costs.

[MacBook]

Natural, there were a number of open items on cost that were discussed on the discloures after the court ruled again Colombia.  The court asked EOM to further detail costs , interest, valuation method among other. I believe Colombia was asking to consider remedial costs to EOM land. I do agree with you from the outside it appears those submissions were due throughout 22 maybe early 23. 

[sailor8]

May be connected, may be not: The "Monthly Progress Report" for February is not yet posted  on the CSE page. Usually this happens during the first days of the following month. Thus this report is overdue.

[NaturalCurrency]

Could it be about legal costs? Court is deciding final award and need to factor in? On any case, these seems to be a development which surfaces when we are close to end game. No harm in dreaming for a miracle. They are present and happen far often we recognize :-) 

[MacBook]

since this is the first submission on costs there's probably going to be some back and forth between parties.  maybe 30 or 45 days The tribunal did leave open  a need for an oral hearing on Colombia's claims for remediation costs which may add some time. But generallly we're in the final innings of this. from order @12 36.  If additional fact witness evidence is

[oldtimer42]

I assume the request for legal costs only goes to EOM to be incorporated into the award. Since the government was not successful they bear their own costs. At least that is how I see it. Our costs would be fully accounted so I doubt the government has anything to challenge.

[sailor8]

Quote: " Cost Submissions - UNCITRAL Arbitration In most cases, advance payments for costs of the Tribunal and ICSID fees and expenses are requested in equal parts from the parties and the Tribunal decides on the allocation of costs in the award.  Unless the parties agree otherwise, a Tribunal can allocate the cost of any part of the proceeding at any

[NaturalCurrency]

Seems like they need legal cost info so that it can be factored into the total award. If so, very close. But then also means that the deal with Aris/Minesa has fallen through with EOM will look to collect the 'award' from the Government? Or once they get the award, that would be the forcing function for Colombia / Aris / Minesa to do the real deal?

[MacBook]

Natural if the judgement is large enough, colombia could always make a deal to allow mining in lieu of payment.  EOM / Minesa / Calimineros are all  outside what appears to be the newest paramo line but Colombia  has yet to formalize anything ...8 years later. At this point Petro seems to be digging in against all in the area ! Minesa and the calimineros included.  This has

[NaturalCurrency]

You bring up a very good comp in Reko Diq gold & copper project in Pakistan. However, iirc, Barrick was on the other side of the dispute and probably had more 'pull' with the regulators and international community. Nevertheless, a good comparable situation and could very well be the template here.

[sailor8]

About the missing "Monthly Progress Report" on the CSE Webpage: The rule says- quote: "...This Monthly Progress Report must be posted before the opening of trading on the fifth trading day of each month..." With the next opening we will have already the 12 th trading day of the running month and still there is no new "Monthly Progress Report" available on the CSE

[sailor8]

The monthly progress report for  Februar is now available on the CSE webpage. I can see there no changes against the January report.

[notafinger]

Mining News. Mayor of Vetas denounces systematic persecution by MinAmbiente against legal miners in Soto Norte! "The constitutional right to participation is being violated." https://lavozmineraemg.com