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Be the first with the news that moves the market- Emerita Resources Corp. (EMO) announced the Third Section of the Provincial Court of Seville has set the date court date regarding the Aznalcóllar package
- The first trial will be an oral hearing scheduled for 10:00 a.m. on March 3rd, 2025, and it is expected to complete the entire process on July 15, 2025
- 16 defendants face a total combined sentence of up to 348 years in prison for the alleged rigging of the Aznalcóllar mining tender
- Years ago, Emerita lost its bid to a company that did not qualify for the process
- Emerita Resources Corp. (EMO) is down 18.28 per cent, trading at $0.76 per share as of 12:04 p.m. EST
Emerita Resources (EMO) announced the Third Section of the Provincial Court of Seville has set the date court date regarding the Aznalcóllar package.
The company shared that the first trial will be an oral hearing scheduled for 10:00 a.m. on March 3rd, 2025, and it is expecting to complete the entire process on July 15, 2025.
The Court has reserved up to 40 sessions throughout days in March, April, May, June, and July 2025.
There are 16 defendants facing total combined sentences of up to 348 years in prison for the alleged rigging of the Aznalcóllar mining tender, including accusations of influence peddling, fraud, embezzlement, and bribery.
David Gower, CEO of Emerita, commented,
“It was a surprise to Emerita that the date was set so far in the future. The company is consulting with its external Spanish legal counsel to explore whether anything can be done to accelerate the process.”
Roughly seven years ago, Emerita bid on two land packages in Spain, which included the IBW and Aznalcóllar packages. Both packages combined were said to have seven high-grade deposits containing close to 100 million tonnes of high-grade zinc, lead, copper, gold, and silver, estimated to be worth several billion dollars in commodity prices.
Emerita was the only qualified purchaser in the final round of the Aznalcóllar package bid. Still, the package ended up being given to a Grupo Mexico subsidiary that never qualified to enter the bidding process. The company immediately took legal challenges through the criminal and administrative courts and has won the IBW package so far.
Emerita Resources Corp. (EMO) is down 18.28 per cent, trading at $0.76 per share as of 12:04 p.m. EST.
