This may be of interest to some. It appeared on 24/12. TPJ seeks...

This may be of interest to some. It appeared on 24/12.
TPJ seeks declaration on Crater Mountain interests

23 December 2011 | 15:01pm

StockMarketWire.com - Triple Plate Junction has started arbitration proceedings to resolve a dispute over interests in the Crater Mountain project in Papua New Guinea.

TPJ's interest derives from a joint venture agreement with Celtic Minerals dated July 2004 and subsequently a JV agreement with Gold Anomaly, and others, with the approval of Celtic, in August 2007.

Celtic contends that it has a direct interest of 7.88% in the project.

TPJ disputes this and has started arbitration proceedings seeking a declaration that Celtic's interest is 1.1% and that TPJ's interest is 18.9%.

The proceedings have been brought before the Singapore International Arbitration Centre and are expected to be heard in early 2012.

TPJ is confident of a positive outcome to the proceedings.

At 3:01pm: (LON:TPJ) Triple Plate Junction share price was +0.08p at 5.13p


Story provided by StockMarketWire.com