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Montauk Metals Inc V.MTK

Alternate Symbol(s):  GAYGF

Montauk Metals Inc., formerly Galway Gold Inc., is a Canada-based mineral exploration company. The Company is focused on seeking new exploration projects. Its subsidiaries include Galway Resources Vetas Holdco Ltd. (Cayman Islands), Galway Resources Vetas Holdco Ltd. and Sucursal Colombia and Galway Gold US Inc.


TSXV:MTK - Post by User

Bullboard Posts
Post by TripleR44on Feb 24, 2016 4:09pm
141 Views
Post# 24591149

Room for Gov't to Interpret but no ability to appeal ruling

Room for Gov't to Interpret but no ability to appeal ruling Unfortunately, even though the Gov't can still interpret sentences, no company in it's right mind will put another dime into these areas. The gov't could generate it's own Paramo report (argue with Humbolt) and can still dispute boundaries. Environmentalists will block any move through the courts. I don't think we can even rely on good old corruption. This is not completely over but the opportunity cost caused by uncertainty may be to much for companies and investors to bare. GLW should retain it's rights and consider a legal compensation claim and that is about it. The worst part is that gold is heating up which makes this so upsetting for those that have waited patiently. A 400 year old mine is now a threat to the Paramo? What a flipping joke. Excerpt From TheGuardian The question is how far Colombias paramos extend. Although the courts ruling cites a 2011 Humboldt Institute publication stating there are 1.9 million hectares in Colombia, Humboldts Carlos Sarmiento told the Guardian their current estimate is 2.9 million hectares - 2.5% of national territory. That 2.9 million figure is also used by the Ministry of Environment and Sustainable Development. But what if the government disagrees that certain areas really are paramos, and permits oil, gas or mining operations to take place there anyway? As the courts ruling acknowledges, the paragraph immediately preceding the three offending paragraphs in the June 2015 law states that ultimately it is the Environment Ministry which, according to its own technical, environmental, social and economic criteria, is responsible for delimiting paramos. And that paragraph wasnt challenged by the plaintiffs. The courts decision could result ineffective given that that part of Article 174 wasnt part of the lawsuit and Congress has given the Environment Ministry the function of delimiting paramos, and in doing that the Ministry isnt subject to the scientific criteria established by the Alexander von Humboldt Institute, the court ruled. It would be possible for the Ministry to not delimit paramos, or exclude from delimitation, certain areas where mining or hydrocarbon operations are happening or are going to happen. That would nullify [our] decision because such operations could take place in areas that have been scientifically classified as paramos, but the Ministry has excluded. AIDAs Lozano-Acosta says that risk exists without a doubt. But the court also said that the government mustnt ignore the Humboldt Institutes technical recommendations, he told the Guardian. For senator Castillo, that risk only exists if the Ministry doesnt closely read the courts sentence or doesnt want to comply with it. In the courts words, delimitation must ensure the maximum degree of protection, Castillo says. This is absolutely crucial given that what the government wants to do is reduce to the utmost the extent of the paramos via a very restricted delimitation process and thereby pave the way for exploitation. Dispute will continue in the delimitation of each paramo, but we will continue in their defence and the courts sentence gives us many tools to do so. According to senator Cepeda, the courts ruling will lead to a profound discussion about how paramos are delimited. He told the Guardian that the plaintiffs, together with environmental organisations and others, intend to ensure the government abides by the courts ruling and will seek the suspension of more than 400 mining titles. AASs Margarita Florez says the courts ruling cannot be appealed. The decision is a constitutional sentence and therefore it is binding on the government and must be complied with, she told the Guardian. There is no way to appeal it. The courts ruling cites various definitions of paramos, including the highest and most exposed regions of tropical Andean mountain ranges and neotropical mountains between the upper limit of forest vegetation (3,200-3,800 ms above sea level) and the lower limit of perpetual snows (4,400-4,700 ms) in Andean systems. It quotes the Humboldt Institute describing them as key sites that harvest rainfall and snow water stored in glacial lakes, bogs, marshes and peat soils that are held for a relatively long period of time and released constantly and slowly.
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