I wish the potential investors good luck. As a Spaniard, I'm certain the tender was rigged. The regional government, controlled by the Socialist Party, was deeply corrupt. Two consecutive regional presidents were sentenced to prison terms but avoided serving them due to pardons granted by the biased constitutional court. This court is filled with former politicians who frequently move between government and judicial roles, a practice known as 'revolving doors.
In a truly democratic system, Emerita would have won the case. However, I fear the judges are being pressured by the criminal organization that has taken control of the central government under Prime Minister Pedro Sánchez. This organization will likely resort to illegal means to derail the case. For those seeking evidence of the Prime Minister's alleged criminal activities, I suggest researching the following open court cases: Caso Koldo, Caso Globalia, Caso Begoña Gómez (the Prime Minister's wife), Caso David Sánchez (his brother), and Caso Ábalos (former Deputy Prime Minister and party secretary general).
Regardless, I might still purchase some Emerita stock as a speculative investment.
Usuario, your point on corruption has been a natural concern and the reason I engaged a leading criminal lawyer in Madrid.
Spanish law is code based as opposed to precedent based. Examination of the 5 judges’ indictments of May & June 2021 show how the lead Judges Alaya & Fernandez systematically constructed the evidence and charges. The advice given was they did this in order to make it almost impossible for the oral trial (conviction & sentencing) judges to deviate from issuing convictions. The evidence is so blatant and damming, and remember, the TripleS cites just a few of the numerous incidents.
Imo, this bet is worth taking all day long at the current share price. It’s just a question of sizing that bet.
It’s worth noting that Prime Minister Sanchez has not been found legally corrupt according to ChatGPT and there are political motivations to label him as such. There is clearly an overarching movement to clean up Spain’s reputation in regards to corruption and this also bodes well for the AZN case.
Thank you for the great article. I’ve owned EMOTF since 2021; got in late ($2.73USD) but just recently added 30K shares. I’m flying to Malaga Spain 27 January, then train to Seville for 4 days. I’m hoping to visit Emerita’s technical team/office in Seville; learn more at the court, try to find an inside contact, and visit Aznacollar, too. I’m trying to learn as much as possible to protect my investment, but maybe augment with additional shares, too. Let me know if there is anything I can do for you once in Seville - cheers!
Fascinating case, I would’ve never heard about this if I hadn’t come across it here. I have a terrible track record with special situations, but this one is really bringing up the “but it might work for us” meme vibes.
Always have imperfect info but the risk/reward on this one looks especially good. Again, really appreciate how you laid out all of the shenanigans. Gonna dig a tiny bit more but I’m 90% that I’ll be putting in at least a placeholder position. Cheers!
Just a small note, think you mean Vicente Fernandez (not a middle name) Guerrero?
Other than that, I like the write-up, but how do you factor in the need for dilution Emerita has here to continue its existing activities plus the legal battle? It is not like they have huge resources at the moment.
They will definitely have to JV with an experienced producer to advance The Aznalcóllar Mine project into production. For shareholders, this could mean a variety of situations ranging from a complete buyout of EMO/EMOTF shareholders, and/or possibly EMO/EMOTF shareholders receiving shares - in exchange of value - the new [Senior Partner Producer] to any JV. A question, however, would still remain; what would then become of Emerita's vast, 100% wholly-owned land packages in the IBW, and their successfully explored deposits (e.g., Infanta, El Cura, and Romanera) and their ever-expanding expanding resource base? In addition, Emerita was also awarded the Nuevo Tintillo concessions in June 2021; FROM EMERITA: "Nuevo Tintillo encompasses 6,875 hectares (with 7,625 hectares pending), and has a rectangular shape along the east-west axis for about 25 km. The concessions were previously held by several major companies during the 1980’s and 1990’s, most recently Boliden Apirsa." All this adds up to a VERY EXCITING OPPORTUNITY; a great story, just as it was laid out in the brilliant Deep Dive by Triple S - I'm in, Big for me and my wife, too, at 37K shares total, and another 9K on LIMIT ORDER GTC at $0.7190 - you'll know if that hits!
Feel like that is pretty obvious. Most criminal trials work like that. There is also potential for a plea deal. There is a prisoners dilemma situation with that many defendants.
In any event, you seem to have been misinformed that the time for plea deals has expired. That’s not the case according to my lawyer and Chat GPT summaries it well below :
“Under Spanish criminal law, plea deals (known as “conformidad”) can be made at various stages of the legal process, including just before the court issues a conviction. This type of agreement typically involves the accused admitting guilt in exchange for a reduced sentence, provided that the agreement aligns with the law.
Key points about conformidad in Spain:
1. Pre-Trial Stage: A plea deal can be negotiated before the trial begins, particularly during the investigation phase or when the prosecutor files formal charges. This is common in cases where the evidence is overwhelming, and the accused prefers to secure a lesser penalty.
2. During the Trial: Plea agreements can also be made at the beginning of the trial, even on the first day of hearings. If the accused agrees to the charges and the proposed penalty, the trial can be shortened or avoided.
3. Right Before Conviction: The possibility of reaching a plea deal technically remains open until the court delivers its final judgment. However, this is less common as the trial is usually nearly complete by this stage.
4. Conditions for Approval:
• The judge must approve the plea deal to ensure it complies with legal standards and does not undermine justice.
• In certain cases, such as crimes with a significant social impact, the court may scrutinize agreements more rigorously to prevent undue leniency.”
I wish the potential investors good luck. As a Spaniard, I'm certain the tender was rigged. The regional government, controlled by the Socialist Party, was deeply corrupt. Two consecutive regional presidents were sentenced to prison terms but avoided serving them due to pardons granted by the biased constitutional court. This court is filled with former politicians who frequently move between government and judicial roles, a practice known as 'revolving doors.
In a truly democratic system, Emerita would have won the case. However, I fear the judges are being pressured by the criminal organization that has taken control of the central government under Prime Minister Pedro Sánchez. This organization will likely resort to illegal means to derail the case. For those seeking evidence of the Prime Minister's alleged criminal activities, I suggest researching the following open court cases: Caso Koldo, Caso Globalia, Caso Begoña Gómez (the Prime Minister's wife), Caso David Sánchez (his brother), and Caso Ábalos (former Deputy Prime Minister and party secretary general).
Regardless, I might still purchase some Emerita stock as a speculative investment.
Usuario, your point on corruption has been a natural concern and the reason I engaged a leading criminal lawyer in Madrid.
Spanish law is code based as opposed to precedent based. Examination of the 5 judges’ indictments of May & June 2021 show how the lead Judges Alaya & Fernandez systematically constructed the evidence and charges. The advice given was they did this in order to make it almost impossible for the oral trial (conviction & sentencing) judges to deviate from issuing convictions. The evidence is so blatant and damming, and remember, the TripleS cites just a few of the numerous incidents.
Imo, this bet is worth taking all day long at the current share price. It’s just a question of sizing that bet.
It’s worth noting that Prime Minister Sanchez has not been found legally corrupt according to ChatGPT and there are political motivations to label him as such. There is clearly an overarching movement to clean up Spain’s reputation in regards to corruption and this also bodes well for the AZN case.
https://chatgpt.com/share/674912ea-f358-800e-948b-17c9af24b40a
Thank you for the great article. I’ve owned EMOTF since 2021; got in late ($2.73USD) but just recently added 30K shares. I’m flying to Malaga Spain 27 January, then train to Seville for 4 days. I’m hoping to visit Emerita’s technical team/office in Seville; learn more at the court, try to find an inside contact, and visit Aznacollar, too. I’m trying to learn as much as possible to protect my investment, but maybe augment with additional shares, too. Let me know if there is anything I can do for you once in Seville - cheers!
Drop me a dm if you find anything of interest
Yes, I will do that
Fascinating case, I would’ve never heard about this if I hadn’t come across it here. I have a terrible track record with special situations, but this one is really bringing up the “but it might work for us” meme vibes.
Yeah, it can be tough. I found it interesting enough to invest with the information i have found.
Always have imperfect info but the risk/reward on this one looks especially good. Again, really appreciate how you laid out all of the shenanigans. Gonna dig a tiny bit more but I’m 90% that I’ll be putting in at least a placeholder position. Cheers!
Just a small note, think you mean Vicente Fernandez (not a middle name) Guerrero?
Other than that, I like the write-up, but how do you factor in the need for dilution Emerita has here to continue its existing activities plus the legal battle? It is not like they have huge resources at the moment.
Corrected. They raised a lot of cash recently in an offering and they are reaching the end of the legal process.
In the short term, they have a debt facility that is mostly non dilutive for current activities. https://www.globenewswire.com/news-release/2024/08/15/2930598/0/en/Emerita-Resources-Announces-Loan-Financing-With-Nebari-Resources-to-Advance-IBW-Project.html
There will be more dilution if they win but i imagine they will jv with someone at that point
They will definitely have to JV with an experienced producer to advance The Aznalcóllar Mine project into production. For shareholders, this could mean a variety of situations ranging from a complete buyout of EMO/EMOTF shareholders, and/or possibly EMO/EMOTF shareholders receiving shares - in exchange of value - the new [Senior Partner Producer] to any JV. A question, however, would still remain; what would then become of Emerita's vast, 100% wholly-owned land packages in the IBW, and their successfully explored deposits (e.g., Infanta, El Cura, and Romanera) and their ever-expanding expanding resource base? In addition, Emerita was also awarded the Nuevo Tintillo concessions in June 2021; FROM EMERITA: "Nuevo Tintillo encompasses 6,875 hectares (with 7,625 hectares pending), and has a rectangular shape along the east-west axis for about 25 km. The concessions were previously held by several major companies during the 1980’s and 1990’s, most recently Boliden Apirsa." All this adds up to a VERY EXCITING OPPORTUNITY; a great story, just as it was laid out in the brilliant Deep Dive by Triple S - I'm in, Big for me and my wife, too, at 37K shares total, and another 9K on LIMIT ORDER GTC at $0.7190 - you'll know if that hits!
My Madrid criminal lawyer confirmed plea deals are definitely possible.
Feel like that is pretty obvious. Most criminal trials work like that. There is also potential for a plea deal. There is a prisoners dilemma situation with that many defendants.
Johnny, not sure what you mean by a relative?
In any event, you seem to have been misinformed that the time for plea deals has expired. That’s not the case according to my lawyer and Chat GPT summaries it well below :
“Under Spanish criminal law, plea deals (known as “conformidad”) can be made at various stages of the legal process, including just before the court issues a conviction. This type of agreement typically involves the accused admitting guilt in exchange for a reduced sentence, provided that the agreement aligns with the law.
Key points about conformidad in Spain:
1. Pre-Trial Stage: A plea deal can be negotiated before the trial begins, particularly during the investigation phase or when the prosecutor files formal charges. This is common in cases where the evidence is overwhelming, and the accused prefers to secure a lesser penalty.
2. During the Trial: Plea agreements can also be made at the beginning of the trial, even on the first day of hearings. If the accused agrees to the charges and the proposed penalty, the trial can be shortened or avoided.
3. Right Before Conviction: The possibility of reaching a plea deal technically remains open until the court delivers its final judgment. However, this is less common as the trial is usually nearly complete by this stage.
4. Conditions for Approval:
• The judge must approve the plea deal to ensure it complies with legal standards and does not undermine justice.
• In certain cases, such as crimes with a significant social impact, the court may scrutinize agreements more rigorously to prevent undue leniency.”
Johnny, plea deals can be made. I had this confirmed by my Madrid criminal lawyer.