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3/15/19

Plateau Energy (PLU.v) plays legalese

Plateau Energy (PLU.v) has just released this NR:

TORONTO, March 15, 2019 (GLOBE NEWSWIRE) -- Plateau Energy Metals Inc. ("Plateau" or the "Company") (TSX-V:PLU) (OTCQB:PLUUF) reports that it has been made aware that information was published by a third party late yesterday surrounding certain concessions in its 93,000 hectare land package being not in good standing. The Company wishes to confirm all of its mineral concessions are in good standing and are 100% controlled.  The Company regularly confirms concessions are in good standing via the regulatory body's online database and title opinions provided by independent legal advisors as a normal course of business.
Work commitments in accordance with regulations have been and were properly incurred and filed with the Peru concession regulatory body INGEMMET.
"It's disappointing to see this irresponsible spread of misinformation," stated Alex Holmes, CEO. "Plateau is actively engaged with the government and communities where it operates, and will continue to operate in an open and transparent manner to the benefit of everyone involved."
The Company is in the process of determining the source of the misinformation and is considering legal action. Plateau may provide further clarification in due course if deemed necessary.
About Plateau Energy Metals

What it fails to explain or refer to are the rulings emitted by Peru's INGEMMET this year, namely ruling 405 dated February 14th 2019 and ruling 464 dated February 20th. Your author has a copy of these documents (just in case PLU are looking in today, as they are apparently thinking of taking legal action against this blog and may like to think again about how much shareholder money they'd waste by doing so) and will be happy to use them in evidence, come the day. These documents state that the payments due to the government of Peru on 32 concession blocks held by the wholly owned subsidiary of Plateau Energy have not been made on two consecutive years and that according to the rules, those concessions are now lapsed. What PLU may be hiding behind today is the fact they have the right to appeal to March 31st, but that does not invalidate the INGEMMET ruling. Or to use the PLU CEOs own words,  it's disappointing to see this irresponsible spread of misinformation. That these people insist on hiding behind sophistry and carefully selected phrasing to make half-truths sound like something else is all too typical in the shady world of the junior mining company. 

In short, sue me. You'll lose. And you know it.

Original post here.