just out..hope it's of some use
Vancouver, B.C. – April 9, 2008 –Luzon Minerals Ltd. (the “Company” or “Luzon”) (TSX-V:
LZN) announces that it recently received a default notice in respect of its Lipichi property in Bolivia.
Luzon disputed the default notice based on its declaration that a Force Majeure clause applied in
relation to its obligations to the vendor of the subject property.
Pursuant to the agreement, the vendor had an obligation to ensure that Luzon would have “unrestricted
access” to the property and to remedy any situation which restricted Luzon’s access. The vendor was
unable to do so and the issue has not yet been resolved.
Through its legal representative in Bolivia, Luzon had been attempting to deal with this issue with the
agreement and concurrence of the vendor. Luzon’s legal representative has now resigned. His
resignation has created uncertainty in the continuity of these discussions with the vendor.
The above situation has been further complicated because Luzon understands that Republic Gold
Limited has been meeting with the vendor in an effort to obtain an interest in the Lipichi property.
This has been referred to in Luzon’s recently filed Statement of Defence and Counterclaim pertaining
to the outstanding issues between Republic Gold and Luzon.
Luzon intends to defend its right, title and interest to the Lipichi property into the future.
things are falling into place
- Forums
- ASX - By Stock
- BIG
- rau approaches lipichi owner
rau approaches lipichi owner
-
-
- There are more pages in this discussion • 28 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BIG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online