Short Term Trading Weekend Lounge: 7 -9 Apr, page-97

Landowner Compensation resolution for LNY MLA (Agate Creek project) due on or before 14 July 2017!

On 07 April 2017, the Land Court of QLD directed parties to engage in a court supervised mediation (set for 22 May 2017).

Participation in a court supervised mediation is under the direction and control of the Mediator (not the Courts), and parties are only "expected" (not compulsory) to participate in good faith.

Furthermore, a court supervised mediation is conducted on a without prejudice basis. In other words, if the case is not resolved at mediation, evidence may not be given at a subsequent hearing of anything done or said or any admission made at the mediation. Following mediation (whether the case is resolved or not), the Mediator must destroy all materials provided.

Essentially, on the face of it, it appears mediation (whether court supervised or otherwise) is merely fulfilling an administrative function, not judicial.

However, the Final Hearing (set for 14 June 2017), carries out a judicial purpose, and promises an outcome. If all steps in the directions order have been followed, the final hearing will determine the result of the case.

Please note, the Callover Hearing (set for 31 May 2017), is merely a final review of the case, and is usually held a few weeks before the Final Hearing.

In addition to Agate Creek, LNY also has a farm-in agreement with Newcrest Mining for Laneway’s 100% owned LNJV gold prospect in New Zealand. JV pending.