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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 Nov 04, 2020 6:23pm
169 Views
Post# 31839625

RE:RE:111 petitories were presented for PLU's 9 concessions

RE:RE:111 petitories were presented for PLU's 9 concessionsIf you assume, like me, that PLU is behind this "coordinated move" by Macusani's staff, then this is good news. Opens a possibility to fully recover the 9 concessions (including ocacasa 4) in the short term. Let me explain in more detail.

Given that the 111 petitories are simultaneous, according to the laws there will be an auction to decide who continues for the application process for each of the areas in dispute, and said auction would be held between November 12th and December 2nd, 2020.

If the Medida Cautelar is granted before the auction, then the application process would be interrupted until the end of the judicial process.

If the Medida Cautelar is granted after the auction, then there will already be a winner (who has paid a large amount of money) who will have what is called in legal terms an "acquired right". That is, although the Medida Cautelar would restore the validity of the 9 concessions and stop the application process, the new applicant could go to the Courts to try to force a continuation of said process to get his concession. I doubt he would be able to get the concession, but the judicial process would undoubtedly get "slightly" more complex (and long).

Now, think about what would happen if the winner of the auction is Macusani Yellowcake, indirectly through its staff. The application process would be interrupted until the judicial process comes to an end. If Macusani wins the trial then it keeps the 9 original concessions, and if it loses the trial, then Macusani's staff can continue with the application process for the new petitories (covering the same area as the 9 expired) until getting the concessions. Then, the members of Macusani's staff could transfer the new concessions to Macusani. And done, PLU recovers the concessions!

At first glance it might look complicated, but if you think about it it is pretty simple. By paying money to win the auction what PLU is doing is really paying an insurance policy in the case it loses the trial.

What could indeed be bad news is the participation of Bear Creek in this process. Why are they participating? Are they collaborating with PLU? It seems to me both companies are collaborating on social spending (both have the same host communities), but not sure if this should be read with the same lenses...

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