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Emerita Resources Corp V.EMO

Alternate Symbol(s):  EMOTF

Emerita Resources Corp. is a natural resource company engaged in the acquisition, exploration, research and development of prospective mining properties in the Iberian Pyrite Belt (Spain) with a focus on traditional base metals (zinc, lead and copper) and precious metals (silver and gold). The Company has a 100% interest in the Iberian Belt West (IBW) project. It also holds the Nuevo Tintillo project, both located in the Iberian Pyrite Belt in southern Spain. The IBW Project encompasses three polymetallic deposits: Infanta, El Cura, and Romanera. The IBW Project is located in the western part of the belt, adjacent to the border with Portugal, approximately 144 km west of Seville and 50 km from the port city of Huelva. The Nuevo Tintillo project is located in the eastern part of the belt, in Seville Province, between the deposits of Aznacollar, in the southeast, and Rio Tinto in the northwest. It encompasses 6,875 hectares (with 7,625 hectares pending) and has a rectangular shape.


TSXV:EMO - Post by User

Bullboard Posts
Post by oldsockon Nov 19, 2015 11:34pm
56 Views
Post# 24308059

from june of this year.........

from june of this year.........

COURTS

The Mexican multinational project already controls

Grupo Mexico paid commissions in the contest Aznalcllar

  • The company Magtel, akin to the Board, have sold their influences 1.2 million

  • The Cordovan group received a commission for 'past service' after winning the contest

Short overview The Friars, flooded, at the site of ...

Short overview The Friars, flooded, at the site of Aznalcllar. Jesus Moron

The group Magtel -at that a court investigation for influence peddlingwith the Junta of Grupo Mexico received more than one million euros for their "services" in the competition for the award of the Aznalcollar mine, the government of Susana Diaz he ended up giving in a procedure that was paralyzed precisely fixing suspicions. The award to Magtel theoretically associated with multinational mexicana- the Board carried out "without the slightest rigor" , as Judge Patricia Fernandez.

The alleged preferential treatment to Magtel by the Board would in fact, according to the documentation that drives the Magistrate's Court 3 of Sevilla, intermediation in favor of Grupo Mexico for which the mining company would have paid Magtel.

In fact, among the documents to the Directorate General of Industry, Energy and Mines of the Board sent to the court at the request of the judge is an invoice issued by a subsidiary -the Minorbis expressly created by Magtel to qualify for the award of the mine - AMC Mining subsidiary Iberia SLU, in turn, of Grupo Mexico for an amount of 1,210,000 euros .

As a concept, the company controlled by brothers Lopez Magdaleno bill this long million euros as "fees for services prior coordination 'to AMCMining Iberia (which is the same as saying Grupo Mexico) "for the development and promotion of the project exploitation of the Aznalcollar mining reserve. "

The bill appears to be full-fledged commission for the efforts to achieve the award of the mine to the Board, which according to researchers at the Economic Crime Unit and Attorney (UDEF) Magtel National Police had a special relationship.

Indeed, suspicions of researchers suggest that the business group based in Crdoba was able to use his connections with the socialist regional government -through mainly from several former high charges-to achieve the mine, an alleged trafficking case influences that go much further.

As well as to question 23.6 million euros between 2009 and 2011 received the conglomerate of family Lopez Magdaleno Board in respect of public grants and 28.3 million received from the same public coffers form of loans. All this is now being investigated by police.

The role of fixer Magtel course is endorsed also by the fact that although it was the visible face of Mexico Minorbis-Group consortium to which the Board gave Aznalcollar mining rights on 25 February, the company finally It has taken control of the site, Minera Los Frailes SL Grupo Mexico established as the sole owner.

Only later, the Mexican multinational Minorbis ushered through a sham sale of a minority stake. Specifically, Grupo Mexico Magtel paid for their "services" in the mining competition with shares of Minera Los Frailes.

This is reflected in the records held by THE WORLD Andalusia, among which a notarial deed of sale of 13,049 shares which represents only 1.30% of the share capital of Minera Los Frailes SL, a percentage that could as much is included have amounted to 2.688% under an agreement between the partners contemplating Magtel acquisition of more shares, although this is not accredited.

In short, Grupo Mexico controls between 98.7 and 97.3% of Minera Los Frailes , the company to which the Ministry of Economy, Innovation, Science and Employment awarded the Aznalcollar mine in the controversial contest brought to court on the other candidate, Emerita Resources and Ecologists in Action.

There is another detail that greatly attracts attention in this string of business operations, which many of them were held the same day, May 11, precisely the deadline set by the Government of Andalusia to contest winners formally accept the award.

The 11th is dated Minorbis the bill issued by their "services" Grupo Mexico and that day is done before the notary Andrs de la Fuente the transfer of shares to the subsidiary Magtel as payment.

In the brief submitted by Minorbis-Grupo Mexico to accept the mineral rights, the winners show their reluctance to take the field at that time and they do it for imposition of the Directorate General of Mines, which rejected two requests asking for an extension of official deadline.

Only after exhausting options, Minera Los Frailes mine took a few hours and closed sales transactions and corporate agreements, among which was the payment of commission to Magtel.


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