Hello Stan, I am back ... Regardless of the purely hypothetical calculations - which are rather wishful thinking - of @Drjimjones, the following can be stated regarding the assets and the legal force to date - according to my personal opinion:
1. Aznalcllar
Currently has no value. Pure fantasy. Legal proceedings open. If Emerita Resources is victorious, the real problems are just beginning - keyword: management of environmental catastrophe and strict environmental regulations, see also Deposit Romanera at IBW. And if mining, only underground (see at the end).
2. IBW, Deposits El Cura and especially Romanera
Very low value. Problems start with required environmental permits for exploration work like drill permits.
3. IBW, Deposit La Infanta:
Is of value. Drill permit was issued. It did NOT require an environmental permit. The responsible mining authority could issue the permit on its own authority.
La Infanta historical resource: 0.8Mt (1.77% Cu, 6.91% Pb, 12.66% Zn, 148g/t Ag). Metal value just under $700m at just under $900/t.
This is what the authorities in Paymogo, the municipality responsible for Romanera, are saying (Online Translator):
https://elpais.com/espana/2020-12-27/suspendida-la-prospeccion-minera-en-la-romanera-por-afectar-a-terrenos-no-urbanizables-de-especial-proteccion.html
So that no misunderstandings arise: It is only about the drill permits. There is nothing at all about the environmental requirements for an operating license.
Of course, the mining authority of the Junta de Andaluca is open to grant the drilling permits for El Cura and Romanera. But notice the last page it clearly states: it needs appropriate environmental authorization, since these areas are part of the Andvalo Occidental Special Conservation Area, part of the Natura 2000 network (...)
(...) and does not exclude the need to obtain other permits that are required by current law (environmental permit).
https://www.juntadeandalucia.es/export/drupaljda/tramite_informacion_publica/21/02/11_PROPU_RESOLUC_PlanRestaurac.pdf
And basically:
If a permit for mining is granted at all, it will most certainly not be Open Pit, but Underground. On the one hand, this severely limits the potential for profitably mineable resources. And mining is done at far higher costs than Open Pit.
(NR EMO dated 12/4/2021):
"The Junta of the Andalucia Region passed a law designating underground mining as a strategically important industry in the region that will be permitted in all areas of the region."
urai58
P.S. I know this is a Canadian forum. But like Euro Sun Mining, the assets are located in Europe. Europe with the European Union has a Tier 1 jurisdiction. But the say of the people is very large. And the requirements for sustainable and environmentally friendly mining are extremely high. If the local people (as opposed to the elites) don't want the mine, no mine will be built, 100%. Europe is simply too densely populated. One more point: In Andalusia, mining is in direct competition with the agriculture of the locals. The protection of water is of paramount importance.
Translated with www.DeepL.com/Translator (free version)