EMOTF
EMERITA RESOURCES CORP
stock OTC

Position posted below.
Emerita Resources (EMOTF / EMO.V) is currently trading at \~$110m market cap and is a junior minor with potential access to two of the most lucrative mines in Spain.
In December, Emerita lost a major lawsuit for one of the mines (Aznalcollar) in the criminal court and its stock subsequently dropped 70% overnight but is now fairly priced with significant upside potential.
Aznalcollar is not a lost cause as there is still a lawsuit in the administrative court and given all the evidence and historical precedent it is a 50/50 bet that they will win in the administrative lawsuit and ultimately win the development rights to the mine. A successful lawsuit here would 5x the price overnight given where the stock was trading prior to the criminal court ruling.
EMO’s other mine (IBW) is about to be permitted and receive it’s pre-feasabilty study by end of Q2, which if positive will at least double the price.
In summary there are two paths to success with minimal downside, hold on to EMO for 6 months and worse that can happen is you’re down 10-15% but the upside is massive given where precious metals are trading.
**Path 1: The IBW Project (The "Fundamental" Floor)**
• **The Asset:** Iberian Belt West (IBW). High-grade Zinc, Lead, Copper, Gold, and Silver.
• **The Reality:** This isn't just "dirt." Recent metallurgical tests (March 2026) showed **81% gold** and **96% silver** recovery using the Albion process.
• **Timeline:** The Pre-Feasibility Study (PFS) is due by **the end of Q2 2026** and if positive the stock will triple.
• **The Rerating:** Current Market Cap is \~$140M. Peer developers with similar tonnage are trading at 3x this valuation.
**Path 2: Aznalcóllar (The "Lotto" Ticket)**
• **The Asset:** A past-producing mine with an estimated **70-90 Million tonnes** of ore.
• **The Status:** Emerita is the only legal bidder left standing in a decade-long corruption trial against the previous awardee.
• **Timeline:** The verdict is **imminent**. Following the 2025 criminal trial, we are now in the "Administrative Court" window.
• **The Rerating:** Clarus Securities estimates a win could add **$700M – $1.2B** to the market cap. That’s a conceptual target of **$4.00 – $5.75 per share**.
Position Below:
https://preview.redd.it/vwjlnjbdpiog1.png?width=1170&format=png&auto=webp&s=b6ad8ee12171cabef96e4af1a5d59ee451ab28b4

Position posted below.
Emerita Resources (EMOTF / EMO.V) is currently trading at \~$110m market cap and is a junior minor with potential access to two of the most lucrative mines in Spain.
In December, Emerita lost a major lawsuit for one of the mines (Aznalcollar) in the criminal court and its stock subsequently dropped 70% overnight but is now fairly priced with significant upside potential.
Aznalcollar is not a lost cause as there is still a lawsuit in the administrative court and given all the evidence and historical precedent it is a 50/50 bet that they will win in the administrative lawsuit and ultimately win the development rights to the mine. A successful lawsuit here would 5x the price overnight given where the stock was trading prior to the criminal court ruling.
EMO’s other mine (IBW) is about to be permitted and receive it’s pre-feasabilty study by end of Q2, which if positive will at least double the price.
In summary there are two paths to success with minimal downside, hold on to EMO for 6 months and worse that can happen is you’re down 10-15% but the upside is massive given where precious metals are trading.
**Path 1: The IBW Project (The "Fundamental" Floor)**
• **The Asset:** Iberian Belt West (IBW). High-grade Zinc, Lead, Copper, Gold, and Silver.
• **The Reality:** This isn't just "dirt." Recent metallurgical tests (March 2026) showed **81% gold** and **96% silver** recovery using the Albion process.
• **Timeline:** The Pre-Feasibility Study (PFS) is due by **the end of Q2 2026** and if positive the stock will triple.
• **The Rerating:** Current Market Cap is \~$140M. Peer developers with similar tonnage are trading at 3x this valuation.
**Path 2: Aznalcóllar (The "Lotto" Ticket)**
• **The Asset:** A past-producing mine with an estimated **70-90 Million tonnes** of ore.
• **The Status:** Emerita is the only legal bidder left standing in a decade-long corruption trial against the previous awardee.
• **Timeline:** The verdict is **imminent**. Following the 2025 criminal trial, we are now in the "Administrative Court" window.
• **The Rerating:** Clarus Securities estimates a win could add **$700M – $1.2B** to the market cap. That’s a conceptual target of **$4.00 – $5.75 per share**.
Position Below:
https://preview.redd.it/vwjlnjbdpiog1.png?width=1170&format=png&auto=webp&s=b6ad8ee12171cabef96e4af1a5d59ee451ab28b4