Something from the Portuguise media... I translated it for you with Google:
http://www.jornaldenegocios.pt/empr...es-em-montalegre?ref=HP_Destaquesduasnotícias
I
NDUSTRY
New Lithium says it has invested almost 4 million in Montalegre
The company that prospects lithium in Trás-os-Montes says it expects to have a court decision - in the context of the conflict that opposes it to Lusorecursos - in time for the deadline - 7 December - to revalidate the operating license in Montalegre.
Paulo Zacarias GomesSeptember 8, 2017 at 7:54 PM
The Australian company that has been working on lithium prospecting in Trás-os-Montes states that it has already invested almost 4 million euros in fieldwork under the contract with the original holder of the prospecting licenses, Lusorecursos, company with the court.
In a statement to which the Business had access, New Lithium (formerly Dakota Minerals) argues that the investment was made in the collection of samples, drilling, drilling, and laboratory analyzes of ores, but Lusorecursos failed to comply with its obligation to obtain authorization for the contract between the two companies to take effect.
"Lusorecursos failed to comply with the obligation to obtain governmental authorization, doing nothing and thus breaching the contract signed with New Lithium," says the company in the note. That is why - and as it had already announced - "it has initiated a series of judicial proceedings" for which it says it expects a decision in November.
This predictable timing of the decision will allow the Australian company, the note adds, "to submit the corresponding application for an operating license before 7 December, the deadline for submission." The New Lithium also guarantees that "it occupied, in good faith, publicly and without any opposition by anyone, the lands subject to the license of prospecting and research granted."
Government says that Lusorecursos has already invested 900 thousand euros
This Monday the Government had publicly pronounced, for the first time, on the dispute that opposes Lusorecursos and Novo Litio, referring to the existence of divergences between the administrators of Lusorecursos that says they have been reported and considering that this is the only State interlocutor in the scope of Sepeda prospecting,
This is because, he claimed, it was with this company that he signed the contract in 2012. Although the transmission of his ownership to Lusodakota / Novo Lithium, allegedly agreed, allowed to carry out prospecting work in the meantime. Operations that led to the identification of lithium resources (10 million tons of lithium oxide ore, according to the state) that the New Lithium says have proved adequate for the production of electric batteries.
This identification of resources led the Australian company to announce the possibility of an investment of 370 million euros in the construction of a mine and mineral processing facilities. However, in July - and after weeks of misunderstandings that led to the actions of New Lithium being suspended on disallowed - the Australian company would eventually initiate "legal proceedings" against Lusorecursos.
In the statement on Monday, the Secretary of State for Energy specified that the investments contracted by Lusorecursos were fulfilled by the company, which has so far invested more than 900 thousand euros.
New acquisitions announced in the zone
Meanwhile, New Lithium also announced this week the purchase of a new package of prospecting licenses in Trás-os-Montes, near Sepeda. The new licenses (identified as MNPP01015 and MNPP01713) were acquired through the purchase of 100% of the Portuguese subsidiary of Medgold, a listed company in Toronto, Canada.
Medcenterra, which is the target of purchase, includes the prospecting areas designated by Chaves and Limarinho, which face Sepeda but also the areas of Malhão, where Lusidakota (a subsidiary of Novo Lithium) reports that it has submitted a prospecting request. It is also through Lusidakota that the acquisition of Medcenterra is made.
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