- Emerita (EMO) has provided an update on developments in its ongoing court proceedings in Spain
- The Administrative Court of Andalucía has notified the company that it will be making a ruling in the administrative case initiated by Emerita in 2015
- The ruling may result in the company being awarded the Aznalcollar Zinc Project
- Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe
- Emerita (EMO) is up by 11.46 per cent and is currently trading at $1.75 per share
Emerita (EMO) has provided an update on developments in its ongoing court proceedings in Spain.
The Administrative Court of Andalucía has notified the company that it will be making a ruling in the administrative case initiated by Emerita in 2015.
Emerita filed the 2015 application because it considered the awarding of the Aznalcollar Zinc Project pursuant to the public tender process to be unfair, arbitrary and inconsistent with Spanish law.
The company perceives the Administrative Court’s notice as a very positive development, as Emerita’s external Spanish legal counsel has advised that the court has the authority to award Aznalcollar to the company.
This administrative process is separate from the ongoing criminal proceedings regarding the alleged crimes committed in the awarding of Aznalcollar, which gives Emerita another path forward to obtaining the rights to the project.
The company will communicate the Administrative Court’s ruling once it has been issued.
Emerita is a natural resource company engaged in the acquisition, exploration and development of mineral properties in Europe.
Emerita (EMO) is up by 11.46 per cent and is currently trading at $1.75 per share as of 12:11 pm ET.
