RE:Curious...Management has always been very approachable, and still is. So I don't relate to your comment.
What's bugging many people here now is that there IS no story to tell, other that what has been in the press and press releases. So here it is in a nutshell.
We are facing arbitration. There is a timeline. As Sailor very helpfully provided, the news from Colombia is that EOM is going through the process of laying off the union staff. That is something management has been reluctant to do, because there was hope still of putting in a mine. It is also a very involved process in Colombian law, but it is a clear signal that management has pretty much given up on the idea of putting in a mine. The only thing that would change that is if arbitration forces some kind of an offer out of the Colombians.
While it is true that the Colombians can make a decision any time to give us the green light, it is EXTREMELY unlikely to happen before arbitration begins in early Sept. After that, maybe the looming possibility of a big payout to us might force a decision out of them.
The big issue with getting a decision from them is that Colombian ministers are personally liable for their decisions. Hence, 6 ministers later, none have made a decision. Nor will they on their own. They'll just hope we'll go away. And we aren't going to.
There WILL be arbitration, there HAS been administrative lapse on the part of Colombians, meaning they have blocked us from developing a mine, and therefore, although they can pass whatever laws they want, THEY MUST PAY COMPENSATION. And there is a very specific timeline for the arbitration process.
Meanwhile, management is working very hard getting the case ready and evaluating funding options. They will, of course, choose the funding solution best for existing shareholders.
So everyone must wait for now. As for the other options always bandied about by the ceaselessly imaginative: Galway has left the building, as the announcer used to say of Elvis. They are no longer pursuing their option, taking what is left of their money, and moving on. Minesa is taking care of their own business. NO ONE is going to make an acceptable bid before arbitration plays out...it is nonsensical to suggest it. So no big behind the scenes conspiracy for mountain consolidation. That idea has withered over the past 5 years.
So those are the facts as they stand right now. You don't have to like 'em, but Sept. is now only two months away, and then expect a few months for the process to get rolling. Like an underwater homeowner ignoring the foreclosure statements, eventually someone will force the issue, and we must all hope arbitration does exactly that.