These rulings set aside the award of the International Arbitration Court at the Moscow Chamber of Commerce and Industry dated June 30, 2014 (the “MCCI Award”) through which Stans was awarded US$118,000,000 in damages.
Canadian Junior Mining News
The Canadian Mining Eye index declined 17% during Q3 2015, compared to a 4% gain in Q2 2015.
In March last year, Anna Kuranova sued the company alleging to have been fired wrongfully.
The frozen payment corresponds to what the Kyrgyz Republic was told by an international arbitration court to give Stans for revoking its rare earth mining licenses in the country.
This is not the first time the company’s rights for its Amazonas project have been at risk of being revoked for failure of tax payments.
The Canadian rare earths junior is appealing a Moscow court decision of Moscow City Arbitrazh Court of not allowing it to obtain a sum related to the loss of its Kutessay II mine.
Mining equities didn’t fare very well in Ernst & Young's most recent Canadian Mining Eye report.
The Vancouver-based miner said it did not receive the funds wired to pay the tax for "unknown reasons."
It was not at the end of any rainbow, but two Canadian firms did find their own pot of gold and are turning Northern Ireland in a new mining frontier.
Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine in December 2009, but a local company had claimed being the rightful owner of such permit.
Decline was in line with S&P/TSX Composite index, which also plummeted 15% during the quarter.
Transaction is worth around $15 million.
True North Gems expects to start production towards the end of winter of 2015.
The Canadian junior has entered into an arms-length definitive acquisition agreement with private South African companies.
Index gained 9% from April to June, outperforming the S&P/TSX Composite index, which gained 6%, and the London Metal Exchange index, which gained 7% in the same period.
There are at least six mines proposed or already started in the area comprised by Michigan, Minnesota and Wisconsin.
Pillot Gold is snapping up junior Cadillac Mining, which owns the early stage Goldstrike project in Western Utah, in an all-share deal valued at nearly 20 cents per share.
The majors continue to focus on rigorous cost control measures and disciplined M&A activities and juniors still seek the right opportunities.
NioCorp Developments' El Creek niobium mine could become the first such a mine in the US, which currently imports 100% of its needs for the metal.
The province is asking the Federal government to match the funds.
In the last two months at least a dozen juniors have announced they are considering growing cannabis.
Currently 19% of Aussie geoscientists are unemployed, compared with fewer than 2% three years ago.
More than 55% of last year's exploration projects were located in these countries.
Halifax-based gold miner it plans to make an $11-million bid for Vancouver junior.
New mining listings in the Toronto Stock Exchange and its junior counterpart, the TSX-V, continue to dive.