VENTANA GOLD CORP. (TSX: VEN.TO)

Zitat EdelmanWer hat schon soviel Glück, aus etwa 4000 Minenwerten derartig Aussergewöhnliches herauszupicken ??

Manchmal wird auch einem blinden Huhn ein Körnchen zugeteilt

http://www.ventanagold.com/upl…sults_140_through_157.pdf

Der Kurs schmierte trotzdem zwischenzeitlich über 7 % ab.

VENTANA PROVIDES CORPORATE DEVELOPMENT UPDATE AND
ANNOUNCES DISPUTE RESPECTING LA BODEGA AGREEMENT
Vancouver, B.C., November 26, 2009 – Ventana Gold Corp. (TSX: VEN) (“Ventana” or “the
Company”) has been advised that Sociedad Minera La Bodega Limitada (or the “Vendor”), the owner of
the mineral rights to the La Bodega property in Colombia, is seeking an arbitration in relation to an option
agreement (the “Option Agreement”) with CVS Explorations Ltda. (“CVS”), Ventana’s 100%-owned
subsidiary. The Option Agreement provides for CVS to acquire the La Bodega property mineral rights
through a series of staged payments as detailed below.
The request for arbitration is an attempt by the Vendor to invalidate the Option Agreement and have the
property returned to the Vendor. CVS has operated under the Option Agreement for almost four years
without any performance default or allegation of default. The Vendor’s request for arbitration is based on
arguments that the Option Agreement fails to comply with applicable Colombian law and the Vendor has
refused to abide by the terms of the Option Agreement.
Ventana has well respected Colombian legal counsel who prepared the Option Agreement. This counsel,
together with counsel from one of Colombia’s largest and most respected legal firms, from whom
Ventana has sought a second opinion, has advised Ventana that the Vendor’s argument that the Option
Agreement fails to comply with applicable Colombian law is wholly without merit. Both sets of counsel
fully expect the Option Agreement to be upheld as valid and enforceable by the arbitration panel.
Ventana will exercise all means to protect its rights under the Option Agreement.
Ventana President and CEO Steve Orr said: “We believe this is an attempt to obtain more money for the
mineral rights now that we have substantially increased the value of the property through our exploration
success. There have been no changes to the mining laws and there are no government agencies
involved in the dispute. We are confident in the integrity of the regulatory system and the application of
justice in Colombia. Ventana has all the necessary permits in place to continue exploration and technical
work on the property and the Vendor cannot legally stop Ventana from doing further work on the
property.”
Ventana’s initial 43-101 resource estimate on the La Bodega property is due in the first quarter of next
year and the Company has a scoping study under way, with completion expected mid-2010. This work
remains on schedule.
Option Agreement
Sociedad Minera La Bodega Limitada is a private company controlled by certain members of the Gelvez
family of Bucaramanga, Colombia, and is the title holder to Concession Contract #3451 (the La Bodega
property) granted by the Colombian mining authority. CVS entered into the Option Agreement in
February 2006 which calls for a series of staged payments, as follows:
Cash ($US) Shares
On Signing - February 2006 (Paid) $ 300,000 -
February 8, 2007 (Paid) $ 400,000 250,000
February 8, 2008 (Paid) $ 500,000 250,000
February 8, 2009 (Paid) $ 2,800,000 250,000
February 8, 2010 (Payment attempted Nov. 20, 2009) $ 3,000,000 250,000
NEWS RELEASE
Suite 400 – 837 West Hastings Street
Vancouver, BC, V6C 3N6
Tel: 604-687-1717
Fax: 604-687-1715
Email: info@ventanagold.com
Web: http://www.ventanagold.com
$ 7,000,000 1,000,000
Ventana has met all the conditions of the Option Agreement and the first four payments have been
made. The final payment payable by February 8, 2010 was attempted (the Option Agreement allows for
CVS to exercise the option in full at any time prior to the date of the final payment) but the Vendor has
refused to accept the payment, which is a breach of the Option Agreement.
Arbitration Process
A claim has been filed by CVS with the Chamber of Commerce in Bucaramanga, Colombia for breach of
the obligation by the Vendor to accept payment and the Chamber is now in the process of establishing
the arbitration panel. Once the arbitrators have been chosen a settlement hearing will be held and
arbitration costs established. The parties then have 10 days to deposit the assessed cost. If neither party
pays, the arbitration is terminated and can be converted to a lawsuit in the courts. Otherwise it proceeds
to hearings to collect and present evidence. Once under way, the arbitration cannot be stopped unless
both parties agree, and the final decision is binding. It can be appealed before a Colombian high court
based on a failure of procedure.
Ventana’s advice, and that of Colombian counsel, is that the Vendor’s claim is completely without merit
and Ventana is confident it will prevail.

http://www.ventanagold.com/upl…_2009_VEN_arbitration.pdf

per stop loss tschüss und weg.

investiere diesen teil in yng. mal sehen....

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