Eco Oro Minerals Corp C.EOM

Management’s Discussion and Analysis March 31, 2024

[sailor8]

It was published on SEDAR dated at May 30. 2024.

I direct link worked for me via the CSE. To avoid the complicated way over SEDAR (which worked also for me in a test)  please try:

https://sedar-filings-backup.thecse.com/00003568/2405300956326865.pdf

[TiredofWating]

""5) to the holders of the CVR's and the MIP participants, until the aggregate distributions to such persons equals 95% of the claim proceeds."" Yikes.  That leaves 5% for the remaining shares.  And, from that, payment to the company of $30mil So $700US with 6% annual interest since 2016 is $1.5B CAD.  5% of that is $75M - 30M = $45M / 110 million shares

[oldtimer42]

Your math looks decent tired. I was shocked to see the shareholders portion dropped from 10% to 5%. It certainly appears that added costs are being charged to shareholders rather that shared with CVR holders proportionally. It is the age old trait of Tenor to capture alll or almost all of any award. A class action lawsuit in the offing? We have lost our voice with no one protecting our interest

[sailor8]

Shares Out 106.52M Just a plain theoretical question: Somebody offers 10 Can$ per EOM share. More than 50 % of shares are accepting the offer. That somebody then governs Eco Oro and makes an ultra soft settlement with the Colombians. An allowance to mine Angostura with clean underground mining methods ( thus a simple extension of the Aris Mubadalla mine) against the agreement to drop any

[sailor8]

Ahh, I forgot: of course there needs to be a fair compenstion of the CVR holders in addition to the share buying offer. But most of the CVR owners are anyway owners of their old EOM shares as well.

[oldtimer42]

True but not everyone bought both tranches of the CVR, some did not buy either. Everyone knows that Tenor wants to acquire 100% of the asset when there is an award. We are quickly getting there, one more move and the remaining 5% disappears bringing share value to zero. The 5% cut is the piggy bank to pay bills amounting to somewhere around $35 million US. The CVRs obviously pay nothing. If you

[TiredofWating]

Nope.  No better scenario.  That 5% remaining for shareholders will be taken too - just watch.  They will claim other fees and expenses.   That's why the management discussion describes the distribution waterfall with shareholders at the very bottom and payout described as "if any."   Once all other obligations are met, there will be nothing left for

[sailor8]

What I wanted to state as theoretical possible outcome is: The two parties agree outside the ICSID tribunal case in a way as I said. And the case is officially closed according to rule 44 of the ICSID without any ICSID award. To my observation many ICSID cases end like that. Instead of an award decision - the two parties agree on a reasonable fine tuned solution to each other. Only one example

[oldtimer42]

That is a best casev scenario sailor8, I hope you are correct it would be a decent reward. I am suspicious of the board etc. They will look after themselves first

[zubry]

Agreed Oldtimer....feels like it has been the case since the beginning. Anything around .40/share would be a gift at this point. And in the event it all gets burned we still have no recourse as a shareholder class action would take years and still be of little to jo benefit even if it succeeded. I just can believe how it got to this point and how shareholders were forced to give up such control.

[sailor8]

May be Amber and Paulson become our heroes. Instead of cash there is also a "payment" in Aris shares or in shares of a "xyz" company thinkable. It would all depend on the price of course, which - in the end Mubadalla - is willing to pay in cash, share participation or what ever. The rise of the prices for gold, silver, copper is helpful for such an idea.  It still sounds

[oldtimer42]

Absolutely. Sailor8. The ideal solution for us is a buyout where the CVRs are converted to shares. That would increase outstanding shares to about exactly one billion from 106 million. Then everything is equal as a billion dollar payout is about $1 US per share, probably higher if Aris is involved. That is the fairest and cleanest result as opposed to differentiating between CVRs and shares. GLTA.

[TiredofWating]

Agreed.  That would be an ideal solution.  

[sailor8]

Yes, and even Aris + Mubadalla can be happy, as they get said big Angostura resources very cheap and can make very good cash flow out of them. Good cash flow which will pay also to Colombia tons of taxes for many years if not decades... Will all parties be cool and reasonable enough to find this way out of all the troubles around the huge beneficial Soto Norte project...?!

[rdpsims]

Capitalistic greed vs Colombian leftists....  what a disaster for us regular shareholders. God help us  

[MacBook]

Sailor, I noticed on the Aris call last week woodyer was "confident"  a "smaller" footprint would be approved in much less time then the typical 18 months..  Thought it was odd unless there were already ongoing discussions to have such a plan preapproved.  In the context of a $700m lawsuit, it would make more sense that those discussions would be ongoing with EOM

[sailor8]

OUTLOOK Notwithstanding the continuation of the ICSID Arbitration, the Company remains open to engagement with the Colombian authorities in order to achieve an amicable resolution of the dispute. -------- source fromt the Quote: page 4 of the latest MDA available @ https://sedar-filings-backup.thecse.com/00003568/2405300956326865.pdf -------------- BTW: Google says about meaning of

[oldtimer42]

This cannot go on much longer. Assuming there are tripartite discussions on a solution that preempts the award, eventually the award will be activated if parties do not reach a compromise. The iCSID will not wait indefinitely. One would assume that discussions are ongoing to conclude this. At a minimum,  the ICSID will not wait forever and the threat to issue the award should be enough to