GREY:COLUF - Post by User
Comment by
benbolaon Sep 23, 2013 8:29pm
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Post# 21761638
RE:RE:Doing some DD on this company and found this.........
RE:RE:Doing some DD on this company and found this.........simpleFacts wrote: Rhumors are that the courts will abolish both directorships and establish control for a limited period of time until new elections are accomplished. The problem for Colossus is that no matter who gets elected they are agains Colossus and want a revision of the contract. This does not bode well for the future of Colossus in Serra Pelada. I know most of you are looking at the water issues and ground stability, but that means nothing if Colossus loses control of the mine.
This strikes me as a worst case scenario, and there doesn't appear to be much of a legal basis for the activist challenge, based on what others have posted tonight. One thing that I have not seen clear articulation (Google translation is a wonderful technology, but it's obviously limited) of exactly why some in Coomigasp feel the 75/25 terms were a "fraud" and should be repealed. I've seen lots of complaints about the new arrangement, but nothing that suggests there is a legal case for a rollback to 51/49.