IT IS WHAT IT IS !!!!!!!
Constitutional Appeal pending in Sala 1V court.
If the appeal is upheld and Infinito's rights are restored then no doubt the legal fight will continue and Infinito will be faced with a decision of continuing the project or selling Las Crucitas to a Major company. Either way it is positive for the company
If the appeal is denied then International Arbitration will be pursued having as evidence :-
(a) Fully permitted mine
(b) Government support.
(c) Local infrastructure capital investment.
Las Cristinas (Venezuela)
As we await the decision of the ICSID, reflect back to the jurisdictional hearing. The ICSID dismissed all of Venezuela's arguments bar one. They contended that the sale of Las Cristinas was illegal therefore the ICSID had no jurisdiction over the dispute. The ICSID decided to attach that argument to the merits of the case which was held during the first weeks of October 2011. I contend that the whole case hinges on that question. If the sale was judged to be illegal (IT IS NOT) then case closed.
When the ICSID decides that the sale was perfectly legal, the lengthy task of deciding compensation commences. I firmly believe that a decision on the sale of Las Cristinas has been made AND IT WAS DEEMED LEGAL and the case is continuing. If it had gone otherwise the court would have announced it by now and the case would be closed. It should not take almost 6 months to decide on that one major question.
SO, the longer the case proceeds, the better for us.
IT IS WHAT IT IS