GWY - CVZ Update. Consolidation? Calvista Gold issued a news release concerning their disputed property...though Galway isn't mentioned by name, I believe Galway is the "other" exploration company...Lawsuit in the works? How about Galway making an offer to buy Calvista? If Galway is in a strong position, then maybe a lawsuit would settle this...
Link: News Release-https://www.calvistagold.com/pdfs/90-68%20Press%20Release.pdf
From news release:
Ingeominas, Colombia’s mining authority, by Resolution GTRB-0208 dated December 15, 2011, transferred a 60% interest in License 090-68 (El Carmen) (the “Subject Property”) to Calvista’s wholly owned subsidiary Sociedad Minera Calvista Colombia, S.A.S. (“Calvista Colombia”).
Ingeominas, Colombia’s mining authority by Resolution GTRB-0208, also denied another mining exploration company several requests by which, inter alia, it opposed the foregoing assignment. Such mining exploration company has recently filed mediation request with Calvista Colombia and others before the Chamber of Commerce of Bucaramanga, by which it claims that there was an existing option agreement with the title holder of License 090-68 and that such agreement was breached; it also seeks to have the assignment to Calvista Colombia of the aforesaid interest declared null and void. The mediation request is filed in order to comply with Colombian law which provides that prior to filing civil suit the claimant must first attempt mandatory mediation with the future defendants.
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