logo-loader
viewLydian International Ltd.

Lydian International asks court for additional ruling on Amulsar blockade dispute

The Toronto-headquartered group said in a statement that trespassers and their property remain on site despite prior court rulings

Court gavel
Lydian says the motion for a further ruling is likely to be heard within the next 20 days

Lydian International Limited (TSE:LYD) (OTCMKTS:LYDIF), the  gold mine developer, said Tuesday that it had asked the  Administrative Court of Armenia for an additional ruling in the dispute over trespassers at its Amulsar project in the country.

The Toronto-headquartered group said in a statement that trespassers and their property remain on site despite prior court rulings.

READ: Lydian updates on Armenian court of appeal decision in company’s favour

It says the court had ordered the police to remove the trespassers and the property from the site.

"The court’s decision was to be enforced within 30 days, if not appealed by the police. Since the police had not appealed the court’s decision within 30 days after the Court’s ruling, Lydian was expecting the trespassers and their belongings to be removed by the Police, and Lydian’s access to the site restored," the company said in a statement, adding that full access to the site has not been restored.

"Lydian had welcomed the recent rulings of Armenian courts in support of Lydian’s position with respect to illegal road blockades," said Edward Sellers, interim CEO at Lydian.

"Lydian has been deprived of its legal right to operate since June 2018.  We consider the Court’s ruling to be a recognition of the illegality of the trespassing and a call to the Police to restore Lydian’s uninterrupted access to its property at Amulsar.  Until full access to the Amulsar site has been restored, Lydian considers that the police have not fulfilled their obligations to enforce orders of the court.  Lydian will pursue all legal options to protect its rights.”

Additional ruling

Lydian says the motion for an additional ruling is likely to be heard within the next 20 days.

Earlier this month, the firm announced a number of board and management updates, with current board member Sellers named as interim president and CEO, effective June 12, 2019.

The firm also announced Joao Carrelo, CEO and a member of the board of directors, would step down as of the same date.

Contact Giles at [email protected]

Quick facts: Lydian International Ltd.

Price: 0.11 CAD

TSX:LYD
Market: TSX
Market Cap: $83.6 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Lydian International Ltd. named herein, including the promotion by the Company of Lydian International Ltd. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Lydian International Ltd. chief excited about "beginning" of Amulsar project

Howard Stevenson, chief executive of Lydian International Ltd, is very excited about the potential of  the group's flagship Amulsar gold mine in Armenia, where engineering work has now started. The group has $123mln in the bank, which will see it through all activity this year, he...

on 15/8/16

2 min read