Cadence Minerals plc has filed for arbitration to claim compensation for its “destroyed investments” at its cancelled lithium interests in Sonora, Mexico. TREATY The company, which secured funding in March of this year, had its request for arbitration registered yesterday with the International Centre for Settlement of Investment Disputes (ICSID). Cadence has a £3.89 million […]
Tag: arbitration
Lansdowne agrees further CLN
Lansdowne Oil & Gas plc has secured further convertible loan agreements for £100,000 with a “number of existing shareholders”. ECT The Dublin-based company said that the aggregate CLNs outstanding are now £330,000. Lansdowne will use the funds for working capital as it progressing towards a potential reverse takeover, targeted to complete during the first quarter […]
Red Rock faces administration over debt
Red Rock Resources plc said it might have to file for administration if it fails to find sufficient funds to clear its debts. CREDITORS Of the total, the company owes £654,000 to Power Metal Resources plc in respect of their joint venture New Ballarat Gold Corporation plc in Australia. Rescheduled payments include two of £200,000 […]
Ascent wins €5m in Slovenia arbitration
Ascent Resources plc has a won a further €4,990,976, plus interest since 19 January 2024, in an arbitration ruling against its former Slovenian joint venture partner Geoenergo d.o.o. PETROL GEO The sum is in addition to the €2,890,519.17 already accepted by Geoenergo’s administrator and approved by the relevant insolvency court. Proceedings relate to Ascent’s subsidiary’s […]
Red Rock pursues DRC arbitration
Red Rock Resources plc said it remained on course with its arbitration proceedings in the Democratic Republic of Congo, despite conflict and demonstrations. PARTNERS Chairman Andrew Bell added: “Inevitably the invasion in the east of the country has been a distraction and caused delay, including days when offices were shut and flights cancelled. “By maintaining […]
Red Rock nears conclusion of DRC arbitration
Red Rock Resources plc said it will submit further documents in its arbitration case against its local partner in the Democratic Republic of Congo. PROGRESS The dispute relates to the sale of certain copper-cobalt assets in Katanga by VUP (Vumilia Pendeza SA) without Red Rock’s permission. Red Rock holds 50.1% of the joint venture which […]