RE:Macusani Yellocake's Appeal for Review (full text)digingdeep wrote: Juan, Have you found any relationship between PLU and Minera Colibri mentioned in the Presidential Resolution N° 0464-2019-INGEMMET/PE, through which INGEMMET resolved to declare the expiration of 32 PLU mining rights?
It seems really weird and unusual that both companies waited for the last day and deadline to secured the most valuable asset of a mining company (the mining properties). That is insane.
Please comment,
Thanks,
Hi digingdeep, how are you doing?
Regarding this "relationship", well, it seems your intuition is sharper than mine... just found that Macusani Yellowcake SAC" and "Minera Colibri SAC" are indeed related: both have Ulises Raul Solis Llapa as general manager, both have the same legal address (Jr. Giovanni B. Lorenzo Berni Nro. 279 - San Borja, Lima) and were founded the same year (2001):
https://www.universidadperu.com/empresas/minera-colibri.php https://www.universidadperu.com/empresas/global-gold.php Besides that, they may also share some of their shareholders, because as Minera Colibri's web page (www.mineracolibri.com) says it was founded with "south african capital":
South African Capital Mining Company, started in the country with a small ore treatment plant, with an installed capacity of 40 tm/day; at present, its facilities have grown and its current capacity reaches 200 tm/day. Monthly production higher than 90 Kg. of gold. MINERA COLIBRI SAC has helped with the development of the neighboring towns, without counting the innumerable number of families benefited with the work that is executed in its Benefit Plant, the one that is located in the Districts of Chaparra - Achanizo, Province of Caraveli, Department of Arequipa. I know that Laurence Stefan is from there (South Africa), but not sure about the other PLU founders (Stalker, O'Connor).
So yes, it seems this "thing" of paying the validity rights at the last minute is Ulises Solis' style, but this time he "made" it better. He paid the Minera Colibri's validity rights on June 30th, 2016 at 4:35pm, but presented the written accreditation request the next day because INGEMMET's facilities close at 4:30pm. When paying the Macusani Yellowcake's validity rights he again paid in the bank after 4:30pm but this time he was accompanied by another employee who waited in line at INGEMMET's facilities since before closing hours (4:30pm).
It's also worth looking at the time lapses of the expiration process of Minera Colibri concessions:
https://www.ingemmet.gob.pe/igm-sidemcat-portlet/ver-documento?cod_exp=00295890&paginado=0 08/19/2016: INGEMMET declares inadmissible Minera Colibri's accreditation request
09/12/2016: Minera Colibri presents nullity request against INGEMMET's resolution
09/28/2016: INGEMMET' Presidency raises the file to the Mining Council
03/06/2017: Mining Council stablished April 18th as the date for the Audience to discuss Minera Colibri request.
04/18/2017: Mining Council held Audience to attend Minera Colibri request.
05/05/2017: Mining Council declared inadmissible Minera Colibri request.
05/24/2017: Mining Council returns the file to INGEMMET.
09/15/2017: INGEMMET issues Presidential Resolution declaring expiration of Minera Colibri's claims.
09/27/2017: Minera Colibri is notified with the INGEMET's Presidential Resolution dated 09/15.
10/02/2017: Minera Colibri interponed Appeal for Review agains INGEMMET expiration Resolution dated 09/15.
10/18/2017: INGEMMET admits Minera Colibri's Appeal for Review.
10/24/2017: INGEMMET' Presidency raises the file to the Mining Council.
01/12/2018: Mining Council stablished February 20th as the date for the Audience to discuss Minera Colibri's Appeal for Review.
02/20/2018: Mining Council held Audience to discuss Minera Colibri's Appeal for Review.
02/28/2018: Mining Council declared inadmissible Minera Colibri's Appeal for Review.
04/17/2018: Mining Council return the file to INGEMMET.
04/24/2018: INGEMMET certified that the Expiration Resolution was just executed. That is, since then Minera Colibri's claims appear as "extinguished" (or "extinct") on Sidemcat.