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US Gold: Special situation: Mineweb: Los Azules Litigation TNR Gold vs Minera Andes - Court Documents

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These documents, found by Mineweb in the litigation case between TNR Gold and Minera Andes, are public now. In order to have one of the the "largest litigation cases in the history of BC Supreme Court" you need one of the largest Copper deposits in the world, very big ambitions and bunch of emails describing the way of thinking how to get it all and "take out of the game" the junior partner. Now US Gold shareholders will join the litigation lawyers' party after the merger with Minera Andes. We continue to monitor the situation and implications for the newly listed in the US McEwen Mining after the merger.

 

Mineweb: Minera Andes drops plans to spin-out Los Azules because of a court case with TNR Gold questioning its full ownership of the project. 

 

 

"...A court hearing to consider TNR Gold's claims to the northern area of Los Azules through its back-in right had previously been set for this June, the same month Minera Andes had intended to spin out Los Azules into a separate company. McEwen told Mineweb in an interview Friday he had hoped those legal proceedings would have been underway before Minera Andes shipped off Los Azules. But in mid-May TNR Gold threw a wrench into those plans. It gave notice that the BC Supreme Court would allow it to add a new claim to the case alleging Xstrata and Minera Andes did not meet required exploration expenditures to exercise the option agreement governing the property in 2007. The implication: TNR Gold believes it still owns the entire northern portion of Los Azules, and not just a 25-percent back in right... 

 

Moreover, TNR Gold charged, Xstrata never intended to produce a feasibility study. To that alleged end, in its application to advance its new claim TNR Gold quoted an email apparently sent between two Xstrata employees at the time. According to TNR Gold it read, "Yes, taking Solitario (TNR Gold subsidiary) out of the game is a good idea. All we have to do now is not complete a feasibility study within the next three years!..." 

http://sufiy.blogspot.com/2011/05/mineweb-minera-andes-drops-plans-to.html#