Zonte Metals Provides an update on the Gramalote Target application, Colombia.
December 1, 2016 TSXV: ZON
As press released on May 2, 2016, Zonte and a Colombian partner, (collectively Zonte or the Company) are proceeding with legal action against the Secretaria de Minas (Secretary of Mines) for the Department of Antioquia, Colombia for not titling an exploration application. This application sits over open areas between titles on top of the permitted Gramalote Gold deposit which is a joint venture between AngloGold Ashanti (NYSE: AU) and B2Gold (TSX: BTO, NYSE: BTG). Presently, all documents have been filed at the Special Court and the company is waiting for an official response.
The Company would like to address reported comments which were presented at a recent mining conference in Medellin, Colombia. During a presentation about the Gramalote deposit a representative from AngloGold Ashanti was asked about the fractional claims (open areas between titles) sitting over the deposit. The AngloGold Ashanti representative reportedly indicated that the fractional claims were just stories in the media. Zonte wants to make it clear that these open areas were confirmed by the Secretary of Mines in formal documentation from their review of the application. In addition, prior to seeking legal action against the Secretary of Mines the company sought opinions on the validity of the application. One such opinion was from a former Director of Secretary of Mines, who noted that based on the Colombian Mining Code, this application is valid and should be titled. The company will provide additional information as it becomes available.
anyone read that release. Just weird. this wouldn't happen if zonte was more in the media about the claims. they have been brushing off zontes claims. seems to me no one is taking them serious. sick the lawyers on them...
Might just be another trader?? Lot of retail buyers out of TD and many bought lower so hard to say
Christopher is in Toronto next couple days, starting to get the story out there, too bad it is the day after the Gold market got whacked. I will see what feed back I get from him about meetings, hoping it goes well