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Plateau Energy Metals Inc. PLUUF

Plateau Energy Metals Inc is an exploration stage company. The company is in the process of acquisition, and exploration, and evaluation of mineral properties in Peru. It is principally engaged in the exploration for uranium on its properties located in the Macusani plateau region of southeastern Peru and the Falchani lithium project.


GREY:PLUUF - Post by User

Comment by juanPeruon Jun 03, 2019 4:35pm
214 Views
Post# 29795212

RE:APPEAL Presidential Resolution N° 0464-2019-INGEMMET/PE

RE:APPEAL Presidential Resolution N° 0464-2019-INGEMMET/PE The complete list and the map (1) have been posted here several times. It would be contradictory for PLU to publish that information because then somebody could ask "why didn't they published it before"; if they are right in thinking that the risk of losing these claims is zero, then publishing this information could lead many investors to make wrong decisions and incur in significant losses.

The expiration Resolution you mentioned (pages 90-93 of the "ocacasa 4" file) is explicit about the consequences of an unfovaroble decision from the Mining Council (2):

Table N ° 1
 
N °          Unique Code     Mining Claim
 
1             010016705          Chachaconiza
2             010078105          Chachaconiza II
3             010016605          Chapi U
4             010086705          Chapi III
5             010214705          Chapi V
6             010076505          Huarituna 3
7             010071205          Huarituna I
8             010071005          Huarituna II
9             010234805          Huiquiza 3
10           010016505          Triunfador 1
11           010069905          Chapi II
12           010120805          Chilcuno
13           010088805          Colibri I
14           010088905          Colibri II
15           010214605          Corani U2
16           010215005          Ocacasa 4
17           010131005          Porsiaca Estrella
18           010215105          Liocco
19           010111305          Samilio I
20           010182605          Samilio IV
21           010187005          Sillatoco
22           010076905          Tantamaco 6
23           010249305          Tantamaco 7
24           010070205          Tantamaco II
25           010016805          Triunfador 2
26           010069605          Triunfador 3
27           010069205          Triunfador 4
28           010086605          Triunfador 5
29           010069505          Tupuramani
30           010053205          Lincoln XXIX
31           010052905          Lincoln XXVI
32           010117705          Lincoln XXXII
 
(...) It is resolved:
 
First article. Declare the expiration of the following mining claims for the non-timely payment of the right of validity for the years 2017 and 2018:
(same content as table N ° 1)
 
Second Article. Consent or executed that is the present resolution, send it to the National Superintendence of Public Registries for registration.

The resolution is consent if an appeal for review is not presented within the stablished term; the resolution is executed when the Mining Council ratifies it and the claims are declared extinct. That is, if this June 20th the Mining Council ratifies the said resolution, then we should expect the same that happened to Minera Colibri (3):

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.

So, asumming the Mining Council ratifies INGEMMET's resolution, we would know about this decision on June 28th, and the expiration resolution would be executed a couple of months later, maybe in August. Then the resolution would be sent to the National Superintendence of Public Registry for the proper registration. Contrary to what I originally thought, this seems to mean that even if Macusani Yellocake appeal the resolution before the Judicial Power, the claims would be lapsed until Macusani get a favorable verdict from the Judiciary, which as you said could take years. That's why I hope the Mining Council's decision will be favorable, otherwise a range of alternatives open up which I prefer to not fully explore yet.

(1) https://plateauenergymetals.com/wp-content/uploads/2018/07/Figure_2_-_PLU_Project_Location_Map_with_Archeological_Area_of_Interest.pdf
(2) https://www.ingemmet.gob.pe/igm-sidemcat-portlet/ver-documento?cod_exp=00091785&paginado=0
(3) https://www.ingemmet.gob.pe/igm-sidemcat-portlet/ver-documento?cod_exp=00295890&paginado=0
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