Black Range's US project in lawsuit 15-July-08 by Edited announcement
West Perth-based Black Range Minerals Ltd's Taylor Ranch project in Colorado may be under threat following a lawsuit filed against the authority that approved the WA company to conduct further exploration.
The explorer said today that the Fremont County Board of Commissioners had been challenged by an unknown entity on its recent unanimous decision to award Black Range a permit for further exploration works at the uranium project.
"The lawsuit has been filed on the grounds that the County Commissioners abused their discretion in awarding Black Range its permit," Black Range said.
"The company's attorneys in the USA are surprised by this action, as Fremont County's regulations and Colorado law clearly stipulate that the decision to approve the exploration permit was made at the County Commissioners discretion.
"As such the company is optimistic that this case will have no effect on the company's permit, or on its ability to continue to explore the Taylor Ranch Uranium Project."
Black Range said it remained on track to re-start drilling at the project by early August.
Shares in Black Range shed 0.4c to 5.2 c at 13:00 AEST.
BLR Price at posting:
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