EMC Metals Corp.(TSX:EMC) announced that legal proceedings are currently underway after receiving a notice of a lawsuit filed against the Company on June 22, 2012. The notice was issued by the Supreme Court of Victoria, Australia on behalf of Jervois Mining Limited over an earn-in dispute on the Nyngan Scandium Project.
As quoted in the press release:
On 20 August 2012, EMC filed its formal defense and a counterclaim with the Supreme Court in Victoria, Australia. In its counterclaim, EMC has sought relief that includes:
* a declaration that it satisfied the earn-in conditions set out in clause 6.2 of the Joint Venture Agreement,
* a declaration that upon payment to Jervois of the sum of AUD1.3 million (plus GST), EMC is entitled to a 50% interest in the Joint Venture, and
* damages to compensate EMC for the loss that it has suffered as a result of Jervois wrongfully treating the Joint Venture as terminated.
Click here to read the EMC Metals Corp. (TSX:EMC) press release
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