METALOR WANTS TO PROVIDE AN UPDATE ON SUCH SITUATION AS FOLLOWS:
The Peruvian authorities have decided to extend the investigation for a period up to 60 additional days which means that the shipment continues to be blocked;
To the knowledge of Metalor, the investigation is focused on the company that has been awarded in 2014 by the state owned company Activos Mineros the public tender for the commercialization of gold in the Puno Region. Such public tender was launched with the goal of promoting the formalization process of miners in the artisanal mining sector;
Metalor is NOT part of such investigation;
Since 2014 Metalor has been working very closely and fully transparently with the Peruvian authorities such as Ministry of Mining and Energy, Office of Formalization, Activos Mineros and SUNAT. Metalor has regular meetings with these agencies in Peru to support the formalization process launched by the administrations, and to share the additional checking process that was put in place for doré sourcing. It is very disappointing that even after years of effort it seems that there are still issues among the different governmental agencies or companies in charge with regard to gold doré supply from artisanal miners.
In light of the overall situation and till further notice, Metalor has decided on a precautionary basis since March 2018 to put on hold any business relationship with collectors/aggregators in Peru;
Metalor continues to monitor the situation very closely and in this sense is ready to continue to work proactively with the Peruvian Authorities to help in the prompt resolution of this case.
Further to the press released published by Metalor in its web page
http://metalor.com/new-press-release-relative-to-peru/
