RE: Question for the boardI'll give it a try here pleasureisland
1) No one has responded to nomad52's question as to whether or not Rio Tinto has commenced any significant work in Serbia. Anyone know?
It looks like Rio is drilling some new holes according to this web site that was posted by geeraf
www.mineprofs.org/info/industry/SOMP-07-Indstry-Rheinberger.pdf
2) My thoughts are that it may not matter (re: a reason for not giving back concession to EV). Rio Tinto has knowingly taken a risk, given that they were aware that EV would/did file a suit if not awarded the concession. I believe that fact may negate any compensation they could expect to receive if the Serbian Gov't re-installs EV as the appropriate & legal concession holder.
They are asking for 15 million they are not asking for the property back.If Serbia gave the property back to EV than Rio will be looking for compensation.
I agree with Geeraf1 that the tone indicates EV has won suit 1. The interviews will most likely determine the extent of compensation at this point. Unless there is an appeals process & would not EV put out a NR stating that the Arbitrations Board's decision (unanimous by the way) was being appealed by the Gov't? Any opinions out there on this?
I also agree with Geeraf.Its just the matter of how much.I also believe that this is a binding arbitration which means there is no appeals process.
Maybe Geeraf,Edmund or Don could jump in and add to this answer.