Only good news are told, and when the projects are totally failing,
then they say they fight vigorously.
There is no explanation about the legal position in Argentina and soon
five months have passed.
Huge number of projects are acquired for short term market interest, payments
fail and contracts are bad. Here is a US court document how they failed US projects under name
Navaho Gold, failing to pay getting to court with draft agreements
https://hotcopper.com.au/threads/navaho-newpeak-failed-contract-payments-and-lost-us-property.7500827/
Challenging Party is Argentinian daughter company of the same Genesis, who won the court case 2016.
Las Openas deal was done 2019.
It seem peculiar, that after major dispute between NewPeak (Navaho/DarkHorse) and Genesis, they were doing similar deal 2019.
There is no transparency about detals of the dispute as there were not 2014-2016.
It would be important to examine that there is no collusion with the same players with tenements failing.
Las Openas and Hombre Muerto deal
Las Openas is the best project of NewPeak and they had an intention to continue it, before announcement of
the binding deal with Southern Cross Britannia Ltd (SCB).
A major problem is also the information about the financing of the SCB deal requiring 1.5 million AU$,
the Entitlement offering could only cover less than half of this and there will be other costs for the company
in order to maintain its tenements in Argentiania, Finland, and Sweden.
NewPeak has repeatedly marketed the projects as it own without indicating the ownership.
The last strategy information Q1 report 2022 indicated the Argentinian projects and especially Las Openas were priority,
Options to get 95% of Las Openas and Cachi were indicated in the Tables page 9 and 10 of the quaterly report
"The Company has made a strategic decision to focus its main expenditure on the
Argentina gold assets, particularly the Las Opeñas Gold Project, which has been internally assessed as
the most prospective project."
Page 2, Q1 2022, https://npm.live.irmau.com/site/pdf/12265b81-7b1d-4286-aa4d-bc221b12cb25/Quarterly-Activities-Report.pdf
This may also affact the due diligence of the "Hombre Muerto South"-
deal where the Argntinian assets + 1.5 million USD should be given to Southern Cross Britannia Ltd (SCB)
to get 25% of a very early stage lithium project
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL5wu4wBDzv%2Flp8rFiGug%3D
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