Argonaut’s due diligence had revealed that its Zambian partner, Mwombezhi Resources Ltd (MRL), was the sole holder of registered mineral title in the area and that retention licences had been abolished from the Zambian mineral titles system by the enactment of the Mines and Minerals Development Act of 2008. Argonaut is of the view that the claim by Equinox has little merit. This position was supported by the Attorney General of Zambia in November 2011
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Zambian court has unconditional right of appeal for 2 years so even if ARE win, this may hang over their heads for a while
EV is currently $4m. i'm in for a small punt
ARE Price at posting:
4.0¢ Sentiment: None Disclosure: Held
