Tolima Gold's President Jamie Lopez told me good news was coming

I have been a shareholder of Tolima Gold since its' unfortunate inception about 18 months back. It sounded good at the get go, $25 million raised, Iamgold as a partner, an old mine with a mill that could be refurbished, some guys from Gran Colombia Gold and some local well to do Oil and Gas companies guys on board as management. What could go wrong?

Not much except there is only $2 million left in the bank and after a nice call back from President Jamie Lopez who assured me some major news was coming that a major player in the area and was blah, blah, blah...I can not tell you anymore but do not worry.

Well if this is good news I would hate to see shitty news.Well given that it is Colombia we are talking about we all know what shitty news looks like.

On March 11, 2013, the police and other authorities of the Remedios municipality, in the department of Antioquia, Colombia, arrived on the site of Tolima Gold Inc.'s San Pablo mine (mining title 7299) with a court order issued by the Municipal Court of Segovia for the eviction of Remedios Gold SAS, an indirect wholly owned subsidiary of Tolima, from the San Pablo mine and from Tolima's nearby processing plant. The court order orders the restitution of the San Pablo mine to a certain plaintiff who allegedly was a former title holder of the San Pablo mine and who, in 1993, had challenged the assignment of the mining title to a company which was a predecessor of the vendor of the concession to Remedios Gold. At the time of the purchase of this property by Remedios Gold, and of Tolima's acquisition of the shares of Remedios Gold, this legal action had been decided on its merits against the plaintiff and without the possibility of appeal. The plaintiff pursued many avenues to overturn the original decision, which were denied. However, one of such actions resulted in a higher court finding that the reasons set out in the original decision were incomplete and returned the file to the trial court for such ruling to be reissued. That court reversed the original decision and found for the plaintiff, declaring the assignment of the mining title null and ordering the delivery of the mining title to the plaintiff.
Neither Tolima nor Remedios Gold were a party to the court proceedings, and Remedios Gold is currently the registered owner of the San Pablo mining title. The legal proceedings were not registered with the Colombian mining registry, and the assignment of the San Pablo mining title to several acquirors, the most recent of which was Remedios Gold, was never objected to by the plaintiff. Tolima considers the eviction action to be illegal and in violation of its rights and, through Remedios Gold, has filed all available recourses to impede the execution of the court order, and has denounced with the competent authorities the conduct of the Municipal Court of Segovia and of the public officials, which have participated in this abusive violation of Remedios Gold's rights.
Following the police action on the San Pablo property, Remedios Gold has suspended operations at its processing plant, and only security personnel of Tolima remain on the site. Tolima intends to resume operation of the processing plant once this administrative incident has been rectified.
Tolima believes that the actions of the Municipal Court of Segovia and the administrative authorities against Remedios Gold have no legal support, violate Remedios Gold's rights and go far beyond what had been the subject matter of the litigation. Therefore, Tolima intends to defend its rights and property vigorously in this case. Additionally, under the terms of the share purchase agreement pursuant to which Tolima acquired the shares of Remedios Gold, the vendors (the Minatura group of companies) have the obligation to indemnify Tolima and hold it harmless against any and all actions or damages deriving from legal action against Remedios Gold's properties, which include damages resulting from the legal proceedings described herein. Tolima also intends to rely on and enforce this indemnity as required.

Tolima Gold is now on track for my benchmark investment target 90% return to the downside.