GOLD CERTIFICATE
Despite the possibility that EOM cannot mine in the Paramo, Luz Helena Sarmiento mentioned this week that the government is evaluating the possibility to provide a Certification of Gold Reserves to the companies affected. That Gold Certificate represents Gold in situ, but not mined. This could be an interesting new initiative if we consider that a mining company can have and trade "Real Gold Certificate" in situ, negotiable in the market.
At the end, most of the gold produced stays in the international reserve banks in custody, so my question why not a "Gold Certificate" , this could be a new way of mining in sensitive areas.
The negative side of this Certificate is that the gold reserves are obtained in a first stage preliminary drilling as are reflected in the NI 43101, and the company cannot take all the gold and value in the ground as future expansions.
If EOM received that proposal form Government, then EOM will hold some value.
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