GREY:PTQMF - Post by User
Post by
wwadehammeron Feb 13, 2013 10:17pm
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Post# 20985662
Tailings area is hugh
Tailings area is hugh Inmets engineering proposal indicates that the tailings area on our concession will be located in a natural depression surrounded on two sides by high hills. Inmet will build dams on two sides of the depression to keep the tailings and water from rain and the mill contained. Tailings from the mill will be mixed with water and pumped to the depression. The depression is approximately 2.5 miles square. The dams will be 320 feet high after 22 years of operations. After 22 years, wastes will be dumped into the bojita pit. The planned tailings area is huge. Imagine a dam five miles long 320 feet high! Trying to find another area with a depression of that size on Inmet's concessions located in proximity to Inmet's processing plant is highly unlikely if not impossible. There is no way Inmet can start operations until this issue is settled. Inmet still has several years until operations start. Now that Panama's Supreme Count has ruled aganst Inmet, Inmet can go to arbitration or sue in international court. That fact the Inmet would only offer 65 cent for us indicates that it plans to keep on fighting. In arbitration, Inmet could demand that drilling and evaluation of the depression area be expedited to determine if the area is worth mining. Inmet could agree to pay for a portion or all of the drilling expense and compensate PTQ for the residual value of any minerals found. In international court, Inmet could point out that PTQ is drilling in other areas and is not drilling in the depression in order to blackmail Inmet. Remember, Inmet still has several years to maneuver and will likely fight us tooth and nail all the way.