Member Info for Looed

Pt.4

J1 - "The Frontera issue has never been the cause and subject of an interstate dispute," the foreign minister said. What explanation would you give? And then the audience will inevitably be reminded of a recent letter from Congress and the Senate - Ted Cruz, Cornyn, Markwayne Mullin and Jodi Allington - when they addressed the Secretary of State and said that it was American companies that were being harassed and their interests are being oppressed in favor of Iran, China and Russia.

Zaza - That's their main concern. Despite Mr. Zalkaniani's statement, he is well aware that no high-level meeting have been held in the United States administration or Congress in recent years without mentioning Frontera case, simply because Frontera is a clear example of how other American companies are treated in the country, as it`s the largest American investment in Georgia. And the contrast to this is what greenhouse conditions are created for Russian, Chinese or Iranian companies, and all this Senator Cruz mentioned in his letter to the Secretary of State, which he sent with Cornyn. All of this is happening at the expense of the geopolitical and commercial interests of the United States. They want to drive out American interest and instead open the door wide open to Russian and Chinese interests. And all this, by the way, is well reflected in the last few bills. To be honest I could not understand. This is even included in the National Defense Authorization Act, where one of the requirements and conditions for the state to receive appropriate assistance is the pursuit of American business. The amendment was passed by 295 votes last week, and in a few days we will see even more published text and reflected situation with respect to American companies.

J1 - And, in your opinion, whether the fun was caused by the fact that we knew Senator Rish's amendment, which was very strict. Giorgi Rurua's name and surname were also written. Is it possible that this name was not included in this amendment, was that why the Georgian Dream was so happy?

GR - Maybe they lobbied for it as much as possible. I have information that in the United States, as well as in Brussels, Zalkaniani had arrived to somehow manage to avoid the issue of Giorgi Rurua in the European Parliament resolution, which by the way failed to achieve this success. Senator Rish's amendments have not been introduced, but the bill itself is essentially very critical. The same terms apply without actually embedded first and last names, but the principle is the same. But what is the main thing? The main story is that the United States has understood exactly what kind of political force is in power in Georgia, that they can not be trusted, and they are, so to speak, a very rare case of them, so, imagine what happens - on the one hand, the Georgian government promises that He will build the port of Anaklia, but with his other hand he was doing everything to prevent this story from happening.

Pt.3

Zaza (contd) - To soften a little more with the secretary. But one interesting thing I want to tell you. I was told that a few hours before this telephone conversation, yesterday morning, the Secretary of State received another very harsh letter from a group of very well-known congressmen, addressing their growing concern about the persecution American investments and companies from Georgian Dream and Ivanishvili authorities. This concern was reiterated on the day when the Secretary of State spoke by telephone with the Prime Minister in the afternoon, and this part of the concern was reflected even more in their conversation.

J1 - Is it clear. This means that Pompeo's response may change in a short time because he has already received detailed information about what is really happening in Georgia regarding American business. However, before we continue the conversation, I would like to offer our viewers the statements made last week, when Natia Turnava and Davit Zalkaniani were making statements about the type of decision they made regarding Frontera.

Natia Turnava, Minister of Economics and sustainable Development of Georgia, (NT) - It was not an easy decision. As you know, our truth about "Frontera" has been confirmed by international arbitration. We have made a decision and suspend our request for termination of the contract, leaving this 1% of the area on which the extraction is practically carried out. "Frontera" can continue its activities for the term of the license.

Davit Zalkaniani, Minister of Foreign Affairs of Georgia, (DZ) - The issue of "Frontera" has never been a topic of discussion and it has not been given as much importance as the leaders of "Frontera" tried to show. In order for the ordinary, routine commercial dispute not to become detrimental to interstate relations, we have therefore made this decision.

Pt.2

GR (contd) - The freeze can only affect a tranche directly targeted at the Georgian government and not for democracy or the media or other development in general. And all that we have seen in Congress is slowly being reflected in the messages of the executive branch, since the legislature, together with the president, determines foreign policy. And now we see that the statements of these congressmen have been slowly translated into the policy of the executive branch, and the United States will watch with magnifying glass how the elections will be held in Georgia and what will happen to the courts in Georgia.

J1 - Is it clear. thank you very much. As expected the rank gradually increased. Mike Pompeo has already been involved in relations with the Georgian government and he considered it necessary to warn the Prime Minister by phone. Against this background, the government still uses some kind of tricks. Take your case, the example of Frontera. What is the purpose? While the Georgian Dream knows very well that information will flow quickly to both Washington and Houston, and in general the strategic partner is already in control of everything. What do you think we are dealing with?

Zaza - We are dealing with a unique phenomenon, when even the highest officials in the Georgian government believe that they can do everything with lies and tricks. Although we see on a daily basis that this method does not work. Something amazing happened. The Prime Minister of Georgia, who made a public statement last Thursday as if the government had decided not to terminate the contract with our company. Two things happened the next day: the State Department and the Georgian ambassador to the United States immediately began sending a message to the United States administration and Congress that "how noble is the Georgian government and what good conditions the government creates for American investment." And, on the other hand, the Ministry of Economy sent us a letter saying that if before we were threatened with expropriation of our project and property on a specific date, now they do not tell us this specific date and can do it any day from today. By the way, it is now easier for the viewers to understand why Prime Minister Gakharia was in such a hurry and made this public statement last Thursday. He knew very well that a telephone conversation with the Secretary of State was scheduled for yesterday, and one of the agenda was to harass and drive American investment out of the country, create a bad environment for American companies, and that is why he made a statement to the Washington DC politicians.

Pt.1

J1 - The main political topic of the day is the messages from the United States. Mike Pompeo phone call, letters from Washington, Houston and we will talk about it with Giorgi Rukhadze and Zaza Mamulaishvili. Thank you very much. Before we begin the conversation, I would like to offer the viewer the statement made by Tea Tsulukiani today regarding the phone call made by Mike Pompeo.

Tea Tsulukiani, Minister of Justice of Georgia, (TT) - If we take only yesterday's telephone conversation between two people, against the background of this one contact and its content, of course, the speculations and statements of the opposition that the US is abandoning Georgia and the Georgian people and there is any kind of crack in this friendship and partnership becomes even more ridiculous. Even today, the opposition continues to fight against its own country, against its own people, when it makes various attempts to prevent Georgia from gaining support.

J1 - This was the statement of Tea Tsulukiani and the critical letters coming from Washington are addressed to the Georgian government, which did not fulfill its promises and there were initially separate messages to Georgia as a strategic partner and its government. What explanation would you give to today's statement of the Minister of Justice? Let`s start with you, Mr. Giorgi, and we will definitely hear your opinion as well (points to Zaza)

Giorgi Rukhadze, Media expert (GR) - Ms. Tea is right that the United States has not really left Georgia as a state and a Georgian people, but it is clear from all the steps we have seen over the past year that Washington's trust in Tbilisi and the Georgian government is completely diminished. And, all their subsequent steps are a confirmation that the US government no longer trusts the Georgian government. He is trying to turn Georgia into a bedrock so that he does not move and take the country there, which will ultimately hurt Georgia, the region and every citizen of Georgia. Now let`s start from the messages which we have received from Mike Pompeo. This was a clear message which was stating that Washington will not let Ivanishvili to falsificate the elections. The main message was in relation to the elections. Free and fair elections and equal conditions for all political entities or objects are the focus of this message. And the second issue is the court, that the Georgian government should be allowed to use the court for political purposes. It's about business, it's about the media, it's about political prisoners, and so on. Naturally, the messages from the Secretary of State were much more diplomatic than in Congress and the Senate. But I want to tell you that this is actually a mirror effect caused by the acts passed in Congress, we are talking about the Defense Authorization Act, we are talking about the Budget Appropriation Act.

Phil_2018 - here are a couple of quick-reads that will explain the recent changes

https://eurasianet.org/georgia-adopts-landmark-election-reform

https://www.rferl.org/a/georgian-parties-sign-election-reform-memorandum-after-months-of-talks/30478091.html

And a predictable Govt response to the Anaklia Port arbitration -

According to Natia Turnava, Minister of Economy and Sustainable Development, the Consortium is trying to politicize the issue and impede the government to find a new investor. As Turnava stated, the Anaklia Development Consortium didn't cope with fulfilling the obligations.

"The agreement with the Consortium was signed in 2015. It's now 2020 and according to the agreement, we should have had an active Anaklia Port already. However, despite the support from the government, the Consortium didn't cope with the realization of the project. This lawsuit doesn't have any legal perspective. Therefore, it is an attempt of politicization - to impede the government to find a new investor. We are systematically working on the renewal of the tender package and search for a new investor", - stated Turnava.

For the record, Anaklia Development Consortium and the main foreign investor took an arbitration lawsuit against Georgia on July 29. The plaintiffs are demanding restitution of their rights. According to their statement, the demand exceeds 1 billion USD in compensation of losses.

https://www.interpressnews.ge/en/article/108598-natia-turnava-the-arbitration-lawsuit-of-anaklia-consortium-and-one-of-its-main-investors-doesnt-have-any-legal-perspective

In that article I mention there is some detail on 'another case' which is about a company called Caucasus Online and some of
this will sound very familiar - These are comments made by a former US Deputy Sec. of State -

"As far as I’m concerned, Azertelecom, which owns Caucasus Online, is suing the government of Georgia at the international arbitration court in Stockholm. What more can you say about this?- Just to be clear, actually, the owner of the Caucasus Online, is company called Neqsol, an Azerbaijani holding company, which, in turn, is owner of the Azertelecom. Neqsol owns a bunch of other companies, and a bunch of things in the oil sector. It has business operations in the USA, UK, Turkey, Georgia and Azerbaijan. So, what happened was, Neqsol conducted negotiations or discussions with the Georgian government, beginning in 2018, when it decided it wanted to buy Caucasus Online as part of the a much larger digital hub, digital silkway project. And so, the seller, Kvicha Makatsaria, and the buyer – Neqsol, its representatives met with the prime minister Bakhtadze, met with the head of the Georgian National Communications Committee, met even with the head of Georgian Security services, and even with Mr. Ivanishvili, to inform them all what the plan was – and there were no objections, this was in 2018. Then, last August, 2019, suddenly, the Georgian national communications committee, said that it wanted to nullify the sale of Caucasus online to Neqsol, which had happened – Neqsol paid 61 million dollars for Caucasus Online. The GNCC said they wanted to nullify that sale because supposedly, Neqsol, as I understand, had not informed the Georgian National Communications Committee of the planned sale in the way the Committee wanted. As I just said, that is absolutely untrue, given that Neqsol had so many discussions with top Georgian officials, letting them know the plan, giving them updates, as the purchase was moving forward. So after a series of meetings with the GNCC and other Georgian officials, after last August, but there was no progress toward a solution, Neqsol then finally decided, “This is going nowhere, so we’re going to take our case to the international arbitration court in Stockholm. Because we see no other recourse, we see no other way that we can resolve this dispute.” Neqsol says’ “We paid this money, the transaction has happened, this is our asset.” So that’s a normal business practice, right? If two parties, even if one is a government, can’t come to an amicable solution about the business dispute, then
ok then, it’s often the case that you go to arbitration. So that’s what happening now, unfortunately."

Full interview can be found here -

https://www.interpressnews.ge/en/article/108423-matthew-bryza-worries-new-telecommunications-law-targets-caucasus-online-and-will-block-major-investments-that-could-make-georgia-the-strategic-center-of-a-digital-silk-road

Pt.2

(the article ends like this)

Actions taken by the Georgian government against various international investors like Frontera Resources, ADC, Caucasus Online and others in recent years are endangering the country's international reputation and relations with major partner countries, including the U.S.-Georgia ties and the EU-Georgia association perspectives.

Earlier this month, the US government announced that it may suspend about 15 percent of financial aid to Georgia for 2021, until the Georgian government takes steps to strengthen democratic institutions, fight corruption and protect foreign investors.

Some believes that Georgia's actions towards foreign investors in recent years have already resulted in deterioration of investment climate in the country and significant decrease in foreign investments.

According to the Georgian national statistics office, the foreign direct investments (FDI) in Georgia decreased significantly in 2018-2020. In 2017, the country attracted nearly $2 billion in FDI, while in 2019 this figure amounted to $1.2 billion. In the first quarter of 2020, FDI in Georgia amounted to $165.4 million, 42 percent decrease compared to the same period in 2019.

https://caspiannews.com/news-detail/georgias-efforts-to-drop-out-from-regional-projects-risk-scaring-off-investors-2020-7-30-0/

Pt.1

Attempts by the Georgian government to frustrate some of the region’s ambitious projects risk alienating investors, undermining the efforts to attract foreign capital to the country.

Relations between foreign investors and the Georgian government again came into the spotlight last week after officials from American oil company Frontera Resources expressed their dissatisfaction with the conditions proposed by the government in Tbilisi.

Frontera Resources was granted the right to develop an area of 5,060 square kilometers (or 1,953 sq mi) in Georgia under the Production Share Agreement signed in 1997. Since then, the company drilled hundreds of wells and invested about $580 million in Georgia.

Frontera Resources's activities in Georgia were negatively impacted in 2017, when the Georgian government filed a lawsuit against the company, which accused it of “a significant breach of the contract." In April, the Georgian government announced that it had won the court case and said it planned to terminate the contract with the American company. However, it was recently reported that Frontera Resources would be allowed to operate in Georgia, but only within one percent of the original area.

Officials at Frontera Resources say the International Arbitration Court's decision was not entirely in favor of Georgia, as the government claims.

The law suit filed by the Georgian government prompted harsh reaction in the US. A group of US congressmen sent a letter to the State Secretary and Secretary of the Treasury, in which they addressed the problems that American investors are experiencing in Georgia, noting that “foreign direct investment into Georgia decreased by nearly 50%, while taxes and bureaucratic barriers have increased for Western businesses.”

“These good governance issues have directly undermined the ability of American companies to operate in, and deepen our relationship with, Georgia. […] These complications and controversies are deeply marked by geopolitical implications. Frontera’s energy discovery work was aimed at making Georgia stable and energy independent,” the letter reads.

The Frontera issue is not the first time that the Georgian government reportedly introduced obstacles to foreign investors.

(there is then a detailed review of the Anaklia Port case and another related to the recent telecoms Bill)

Pt.2

Georgian Economy Minister Natia Turnava said that ‘any attempts to harm US-Georgia relations will be useless,’ and that the ‘Congressmen will find themselves in an awkward situation as they have biased information’ on the American company Frontera.

In April 2020, the government of Georgia announced that the International Arbitration Tribunal had upheld the vast majority of claims filed by the Georgian government against the US oil and gas firm Frontera Resources.

Georgia had accused the company of violating the terms of their contract signed in 1997, claiming Frontera has refused to return to the state land they are no longer using for exploration.

Last week the Georgian government decided not to terminate its contract with Frontera Resources Georgia Corporation despite winning the case and to allow the company to continue operating in part of the original contract area.

Frontera calls on Georgian PM to stop 'illegal termination of our contract'

Speaking about the reasons Turnava said that relations with the United States, 'which is the main strategic partner of our country, is a fundamental issue for us'.

https://agenda.ge/en/news/2020/2409

Pt.1

Georgian PM on Congressmen’s letter: US political spectrum is diverse, reality is that US-Georgia relations are at an all-time high

Georgian Prime Minister Giorgi Gakharia has responded to a recent letter sent by six American Congressmen to US State Secretary Mike Pomapeo in which they express concern ‘with the recent decline in democratic governance and potential corruption in Georgia.’

In the letter the Congressmen Jodey Arrington, Bill Flores, Will Hurd, Brian Babin, Randy Weber and Markwayne Mullin said that the ‘current government of Georgia led by the Georgian Dream party is being manipulated by Russian oligarch, Bidzina Ivanishvili, who is making efforts to drive out U.S. businesses that have been contributing to the American and Georgian economy for decades’.

The United National Movement opposition party MP Salome Samadashvili has released the letter on Facebook.

Georgian Prime Minister Giorgi Gakharia has responded that ‘some Congressmen will praise us, some will criticise us. However, the objective reality is that the US-Georgia strategic partnership faces no threats, as well as American businesses in Georgia. US-Georgia relations are at an all-time high.'

Gakharia stated that the American political spectrum is very diverse. However, statements being made by top US state officials point at ‘close strategic partnership and wish to further strengthen relations in many directions, including for business and investments.’

Yesterday I received a letter from American Congressman Joe Wilson, an excellent letter which praised Georgia’s democratic progress. I have had a very positive and future-oriented phone conversation with US State Secretary Mike Pompeo. The conversation underlined how valuable the strategic partnership is for both sides. It is the objective reality,” Gakharia said.
He stated that some people and political forces are trying to offer ‘a biased reality, to help their own narrow, political interests.’

Through presenting a biased reality the parties are damaging the state interests, not a separate political force. It is in the interests of the country, not the ruling party’s interests alone, to have a close strategic partnership with the US. It is in the country’s interests as our territories are occupied and without the support of our allies we will not be unable to settle the issue peacefully,” Gakharia said.

Speaking about the US company Frontera , Gakharia said that Georgia won a case against the company in International Arbitration Tribunal as the company violated terms of the contract.

When some people, including Americans, fail to meet their obligations and Georgia wins the case in International Arbitration Tribunal, we should be happy about the country's victory," Gakharia said.

Economy Minister Natia Turnava said that the Congressmen are likely to find themselves in an awkward situation.

Pt.3 (and final part)

J1 - So, this meeting did not take place and the consortium was not formed because of it. Which American companies were there and approximately how much investment were you talking about, Mr. Zaza?

Zaza - There was talk of a multi-billion dollar investment. The market capitalization of both companies exceeded $ 20 billion and as a result of the successful outcome of our work, they also joined us to expand the scope of our work. I only tell you what happened last year. We had many of these in previous years, when the government did nothing more than interfere.

- https://www.youtube.com/watch?v=FYVS1drEQAo&feature=youtu.be
J1 - Yes sir. Thank you, Mr. Zaza. We, in principle, journalists and probably the public are waiting for this decision to be made public. For greater transparency, it would be good for this arbitral decision to be made public and for us to be able to read, learn, and draw conclusions from it. Thanks for your time. Goodbye. Zaza Mamulaishvili, President of „Frontera Resources Corporation“ was our guest.

Pt.2

J1 - I would like to talk about a few more issues - Content of recent statements when the state said it would not suspend the contract and the area, which is about 0.84%, on which Frontera can continue to operate. After that you received some letter. What type of message was this letter telling us? What legal force did it have? In what form did you receive it from the state? Is the corporation lying to us about it?

Zaza - If you want I will tell you directly, yes, you are being lied by the corporation and the Ministry of Economy and the government. After the Prime Minister made a public statement last Thursday that the government was no longer going to terminate the agreement with us, two things happened the very next day: Firstly, The Foreign Ministry, through the embassy, immediately began disseminating this information to political circles in Washington. And, at the same time, the Ministry of Economy sent us an official message telling us that they had temporarily suspended the procedure for cancellation and termination of the contract, which means that if they had been writing to us earlier that we would terminate the contract illegally on the 27th, now it is unclear. It could be stopped on the 29th, or it could be on the 5th of August, or just in 3 months.

J1 - Were there any conditions in this message? If we say that "Frontera" will not fulfill its promise, in this case it will be stopped. In what form was it? Were there any conditions in this message that you received from the Ministry of Economy?

Zaza - Nothing was set out in this message except that we were told that the contract termination procedure was only temporarily terminated. This is also illegal because they have no legal right to do so.

J1 - What type of investment did the state prevent „Frontera“ from making? What were the issues that prevented „Frontera“ from acting as a result of the government's actions? Do you have specific numbers, what amount of investment you wanted to make and failed to do it? And what specific returns did you think you could have got from the investment?

Zaza - Of course, in practice, after 2013, when the interference in our activities became very intense, we could not drill as many wells as we had planned, we could not carry out our operations and we could not make the investments of the scale we thought we would. For example, last year we thought of forming a consortium with two large American companies and launching a multi-billion dollar development program in the Kakheti region of eastern Georgia. We asked the Georgian government, the Prime Minister and the Minister of Economy to meet with us and the other members of the consortium and confirm that Georgia welcomes the investment in the oil and gas industry, which was refused by both the Prime Minister and the Minister of Economy.

(We should have received #25 first, I am checking when we will get #25 and let you know)

Pt.1

J1 - American energy company "Frontera" publishes another statement. The company said in a statement that a few days ago, when the Georgian government announced that it would not suspend its contract with the company, the company was informed that the government would again try to suspend the contract with the it. Zaza Mamulaishvili, President of “Frontera Resources Corporation” joins us live. Mr. Zaza, welcome. Thanks for your time.

Zaza - Greetings

J1 - Mr. Zaza, the recent controversy between Frontera and the state, between the Gas and Oil Corporation, is in the mode of statements. There is literally no dialogue between these two sides. It may also be difficult for the public to draw conclusions because, for example, the Gas and Oil Corporation urges you to make the arbitral decision public. Why not make this arbitral decision public?

Zaza - You mentioned that very well. The Georgian government has chosen a special form of relationship with us, especially since we have been working in Georgia for 23 years and today our company is the largest American investor in Georgia. However, since such a form was chosen by the government to communicate with us, we also respond accordingly. As for the publicity of the arbitral decision, we certainly are not and have not been against this publicity. Even now I can call on the representatives of the state from this broadcast that if you want today, you want to meet tomorrow and publicly announce the decision of the arbitration, which is very clear and it is not necessary to be a lawyer to fully understand the content of this decision.

J1 - Mr. Zaza, we need the consent of both parties, in this case, when we had a conversation, for example, with the other party, we were told that we need the consent of Frontera to make the decision public. The latest statement, by the way, said that the silence on the part of the company could be seen as a sign of consent. That is, you agree to make this decision public.

Zaza - This is a very interesting legal formulation that our silence can be seen as a sign of consent and then made public. This is a vague wording and I can not comment on it seriously. But as for our formal consent, as we have said many times before, I would like to reiterate now - we are not against the announcement of this decision, but it must be done after the relevant legal procedures. And, what I mean by that - a decision contains a lot of technical, commercial, financial and personal information that may not be desirable for other parties to disclose. We legally agree with all stakeholders on this and probably this process will still take probably 10 days or 2 weeks. And, as soon as we get all the consent, then we will be able to officially, in writing, confirm to the state that we also agree to make it public. Before that, we are now saying that together we can do it today or tomorrow.

Maybe there has been a bit of a shift. The COGC statement refers to lands that presumably FRR agreed with during Arbitration. No mention of the USD6m claim as I recall, just the workers pay which Zaza also agrees is an issue.

Asset move sorted?

ODR - I think a day or so ago either the GOGC or Minister said if FRR did not agree to the release they would go ahead and do so. Might be posturing but might also br a way to get Zaza to the table

Thanks DomFok. Quick reply as using phone. I was trying to say - badly I guess :) - that he seems to have history of rejecting talks that stick to the old GD talking points. I see a little bit of danger in that he might say. The report is now ready but we will not meet the GOGC etc until they withdraw their false claims.

Will be interesting to see how Zaza replies. It might be swotted away like the last 'olive branch' as it repeats the old claims around who won what, rights to terminate the contract and the wages issue. Last time Zaza demand these claims be withdrawn before talks.

The RNS also contains some technical data which I didn't copy and seems to be taken mostly from the 2018 Scoping Study and Oct 19 mineral resource estimate.

Europa Metals, the European focused lead-zinc and silver developer, notes the significant increases in the value of the Company's stock since successful completion of the July General Meeting ("GM"), the results of which were announced on 15 July 2020, and which concluded, inter alia, the current programme of cost cutting (via the approval for a management incentive plan), the amendment to the Company's capital structure resulting in the share consolidation and amendments to the Company's constitution to bring its Corporate Governance into line with standard UK practice.

Since the GM and subsequent consolidation of Europa Metals shares on AIM, Europa Metals has seen substantial buying activity on both AIM and the Altx. The Company knows of no reason or material event not yet disclosed to the market at this time to explain the increase. However Europa Metals notes the points set out below:

- Pre-consolidation the stock was highly volatile and pricing today has returned to roughly that of 12 months ago;

- As a lead, zinc and silver project with high grades, current and anticipated commodity pricing is favourable to the Toral project;

- Further work on recoveries and grade is in progress, the results of which will be announced in a timely manner;

- Europa Metals has recently concluded a series of cost cutting measures combined with the approval of an incentive plan;

- The recent rise in share price is positive for the potential exercise of outstanding warrants which would mean further funds for the Company

- The trading disparity between Altx and AIM continues to be monitored by the Company, its advisors and the JSE but represents a comparatively small part of the shares in issue; and

- The new, post share consolidation, pricing normalises Europa Metals next to the Company's peers and allows easier comparison of the equity valuation in the context of the Company's core asset, the Toral lead, zinc and silver project in Spain, which has been significantly advanced by the Company (Full project details can be found below in the Notes to Editors' Appendix).

Europa Metals intends to provide in the short term a new strategic outlook on operational and group activity, once a series of current workstreams have been completed. The Board of Directors would like to thank shareholders for their continued support as the Company progresses a new low capex, high grade lead zinc and silver project towards development.

For further information on the Company and the Toral lead, zinc and silver project, please visit www.europametals.com

The Future of Georgia
Scenario
Georgia, a post-Soviet country long mired in regional conflict, stands at a critical juncture of its development. Russia has significant influence over Georgia’s breakaway regions of Abkhazia and South Ossetia, yet a chance for re-unification is still possible provided that all involved actors find it in their best interests. Despite twelve years of unsuccessful talks, the fate of Georgia’s political, security, and humanitarian situations are still in question. However, there is a renewed hope for lasting peace and stability in Georgia with new talks to be convened in Geneva, Switzerland. In this exercise, you will take the role of U.S., Russian, Georgian, international, and separartist negotiators and mediators to determine the future of Georgia once and for all.

Teaching Points
Focus on solving a multidimensional conflict based on real-world circumstances, parties, and interests
Better understand team and coalition building-dynamics during multi-issue talks
Manage internal and external dynamics with delegations and between parties
Opportunities to promote cooperation in difficult circumstances
Practice sequencing and optimizing informal discussions with formal negotiations
Learn about the historical conflict in Georgia and the realities of great power politics in the South Caucasus
Teaching Materials
Participant Packet

Role Matrix: Overview of all participants and role assignments
Meeting Schedule: Details the locations and meetings within the scenario
General Information: Scenario Background
Character Sheets: Confidential background information for each role
Instructor Packet

Teaching Guide: Provides the instructor with an overview of the scenario, exercise logistics, teaching points, and debriefing notes
Soft copy of suggested introductory and debrief powerpoint slides
All Participant documents except the Character Sheets
Master Packet (add on)

One spare copy of all Participant and Instructor documents (not including soft copy of Powerpoint slides)
Exercise Specifications
Format: In person or Online
Time Required for Exercise: 7-8 hours
Number of participants: 8-32
Negotiating parties (teams): 8
Scorable: No
Prior Knowledge of Topic: Not Required
Language: English

https://daviscenter.fas.harvard.edu/ntf/negotiation-exercises/future-georgia