American Lithium Corp V.LI

Second court hearing to be held on 7/13/2022

[juanPeru]

It has just been uploaded the Resolution 2 on the judicial case, dated June 14, through which the 4th Administrative Court has set the 13th of July as the day on which the parties will undertake their oral allegations. After that, the appelation will be ready to be resolved.

To have realistic expectations about how much time they will take to issue the sentence, I suggest to remember that last year the first court decision was issued on November 2nd, more than 4 months after the corresponding hearing, which took place on June 28.

[tuayai]

Thank you for the intel JuanPeru.   Are you suggesting, assuming your timelines hold, the lease issue could be finally resolved (hopefully in LI's favour) by end of November? It would be great to put this lingering issue behind us.

[juanPeru]

I was trying to be conservative in my post, to avoid putting any unnecessary anxiety on shareholders if things take more time than expected. Once the hearing has taken place, the sentence is generally out in between 15 and 30 days, so I believe the appeal resolution would be late July or early August. The first court decision took more time because there were some disruptions in the otherwise

[juanPeru]

Update: The higher judicial authorities at the 4th Court have just decided that the whole appeal should be cancelled and restarted from scratch in the 6th Court, because of a vice found in the process. After judge Hermoza Castro issued the sentence, one of the participants in the application process, started by Ingemmet (on November 2020) over the area of 32 disputed concessions

[cyber37]

juanPeru..... Did hearing scheduled for 7/13/2022 take place, any known decisions or results regarding 32 disputed concessions? G37

[juanPeru]

The hearing scheduled for 7/13 was canceled and the case returned to the original court because one third afffected party (who in Nov. 2020 applied for an area covered by some of the 32 concessions) requested to be included in the process, and that request has to be evaluated by the judge that issued the first court decision (favorable to $LI). For more details read my previous post.

[juanPeru]

Update: Resolution 19 has just been uploaded. The case is back in the 6th Court, with judge Hermoza Castro, and, on August 12, Diego Ramirez withdrew his request (after collecting the corresponding "fee" I assume), so judge Hermoza Castro doesn't need to decided over that anymore. However, 4 other applicants (aparently members of a family) in the process started by Ingemmet

[cyber37]

Why ia American Lithium not saying anything abaout this? G37

[juanPeru]

I can think of two possible answers to your question: 1) It's not conffirmed yet that more parties will be incorporated into the process. The judge is giving time for the the applicants and the plaintiff ($LI) no respond to Ingemmet's request. When their the incorporation is formally decided by the judge (in the next few weeks), $LI will probably acknowledge it as part of a news release.

[juanPeru]

Update: Resolution 20 has just been uploaded. Judge Hermoza Castro has decided that there's no legal ground to justify the inclusion of any or all the 2020 applicants in the judicial process (shame on Ingemmet), so all the requests mentioned in my previous post have been declared unfounded and the appeal is being raised back to the 4th Court for the pending decision over Ingemmet's

[Hundo22]

I'm new to this story , what's going on here ?

[juanPeru]

There's a state entity called Ingemmet responsible of collecting validity fees and penalties for mining concessions. In 2018, Ingemmet declared that Macusani Yellowcake (now $LI's peruvian subsiadiary) had missed validity payments for 32 of its concessions (covering roughly half of Falchani's and Macusani's resources), and started the process to declare the expiration of those

[Hundo22]

thank you for the update, I will look into this further, I'm slowly going to start a position in this, as I gain further understanding of this company

[cyber37]

LI has failed to pay lease renewal on time (which is in question BUT shows some incompetent local management) & now some local thug is disputing mineral ownership of major company’s’ leases in Peru.  I hope for a quick resolution & if in favor of LI we should be $6/share in no time. G37

[juanPeru]

Update: Judges at the 4th Court have just issued Resolution 8 scheduling the appeal hearing for September 7 at 10am. At some point they also decided to include 4 codefendants, apparently members of a same family: Artemio Alarcon Leon, Estelina Agurto Montalvo, Rosmery Nataly Alarcon and Hans Artemio Alarcon Agurto, who will also have the "use of the floor" during the audience. The