Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum 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 Discussion

Plateau Energy Metals Inc. > Judge Hermoza Castro granted the second Medida Cautelar
View:
Post by juanPeru on Mar 02, 2021 2:54pm

Judge Hermoza Castro granted the second Medida Cautelar

As was informed by PLU this morning (1), judge Hermoza Castro has granted the second Medida Cautelar (2) for the group of 15 concessions, including Ocacasa 4.

The legal base Hermoza Castro used for granting this second MC are the same as in the first MC (3): Macusani Yellowcake paid the good standing fees on time (which has been akcnowledged by both Ingemmet and Minem) and there is no mention in the General Mining Law of the "late accreditation" as a cause of expiration. Even more, the Law of Administrative Procedures grants a period of 48 hours to correct the formal omissions in any requests (like handing in the vouchers that were paid within term).

Given that the considerative clause of the second MC is roughly the same as in the first MC, let's focus on the resolutive clause (the decisions). The first four decisions are exactly the same (in a different order though) as in the first MC:

1) Temporarily SUSPEND the effects of the 15 resolutions of the Mining Council (...), dated July 17th, 2019; by which the appeal for review filed against Presidential Resolution No. 0464-2019-INGEMMET/PD dated February 20th, 2019 was declared unfounded.
 
2) Temporarily SUSPEND, the effects of Presidency Resolution No. 0464-2019-INGEMMET/PD dated February 20th, 2019, by which the expiration of the fifteen mining concessions identified in Table N° 1 of this resolution (Samilio I, Porsiaca Estrella, Tantamaco 6-A, Chachaconiza, Tupuramani, Lincoln XXXII, Chapi "U", Chapi III, Triunfador 2, Triunfador 4, Huaritua II, Colibri II, Ocacasa 4, Huaritua 3, Chachaconiza II) was declared.
 
3) Temporarily SUSPEND, the effects of the Presidency Resolution W/N dated October 3rd, 2018 that declared inadmissible the accreditation of the payments of the 15 mining concessions indicated in Table N° 1 of this resolution.
 
4) Temporarily RESTORE the validity and ownership of the fifteen mining concessions listed in Table N° 1 of this resolution.

These four decisions were enough to prevent Ingemmet from starting any new application process for the 15 concessions, but... were they enough to suspend the application process that is currently ongoing? No, they weren't, because, as has been detailed in a previous thread (4), Macusani Yellowcake's titles to the 15 concessions without MC were already in the process of being cancelled in the Public Registries, which would have allowed Ingemmet to proceed with the corresponding auctions. Once an appliccation process has started (receiving petitories from third parties) the only way it can be stopped is through a judicial decision: a judicial authority (judge Hermoza Castro in this case) is above any administrative authority (Ingemmet and the Public Registries in this case).

So, once Ingemmet started the application process, MacYel's attorneys had to withdraw their precautionary request and start a new one including specific requests to stop the cancellation process that was being pursued by Ingemmet in the Public Registries, and annotate the demand in the registry entries corresponding to the 15 mining concessions, so that the priority (of the 15 mining concessions) was kept by Macusani Yellowcake if it was able to win the judicial dispute.

Good news is that judge Hermoza Castro has granted the second MC in all its extremes, that is, she has agreed on the urgency and opportunity of the MC and has conceded on every decision requested by Macusani Yellowcake. Look at decisions 5 to 7:

5) To KEEP open and in force the fifteen (15) registry entries listed in Table N° 1 of this resolution corresponding to the fifteen (15) Macusani mining concessions, registered in the Property Registry Book of Mining Rights of the Arequipa Registry Office (...).
 
6) The ANNOTATION OF THE DEMAND that gave rise to File N  10760-2019 in the registry entries of the fifteen (15) mining concessions listed in Table N° 1 of this resolution, corresponding to the Property Registry - Book of Mining Rights of the Arequipa Registry Office (...).
 
7) The PUBLIC REGISTRATION of this resolution in each of the registry entries of the fifteen (15) mining concessions owned by Macusani; set forth in Table N° 1 of this resolution, corresponding to the Property Registry - Book of Mining Rights of the Arequipa Registry Office (...).

In summary, after this MC, the ongoing application process will be effectively suspended, and no new application process will be started for the 15 concessions whose validity is being restored until the end of the judicial process.

(1) https://plateauenergymetals.com/plateau-energy-metals-announces-grant-of-injunction-to-macusani-for-concessions-in-peru/

(2) https://cdn-ceo-ca.s3.amazonaws.com/1g3t3ds-Medida_Cautelar_10760.pdf

(3) https://stockhouse.com/companies/bullboard?symbol=v.plu&postid=30380105

(4) https://stockhouse.com/companies/bullboard?symbol=v.plu&postid=32162601
Be the first to comment on this post
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities