Bulgarias Minister of Environment and Waters, Dzhevdet Chakarov, has been told to issue a decision on Dundee Precious Metalss (DPM-T) Krumovgrad’s gold project by the countrys high court.
The project has been held up by the ministers refusal to issue the necessary approval for the environmental impact assessment (EIA) for the project.
The most recent court decision came after the minister appealed the courts unanimous decision in February which had ordered him to make a decision.
Dundee has argued that Chakarovs failure to issue a decision goes against the Environmental Protection Act. The company says the latest court resolution is final, and not open to appeal.
Dundee owns the Chelopech Mine gold and copper mine and the Krumovgrad gold project both located in Bulgaria.
The company has also issued a complaint to the European Commission against Bulgaria because of Chakarovs refusal to provide the final signature not only for Krumovgrad but also for the expansion of Chelopech.
The Romanian media has reported that Chakarov is looking for more revenue from the projects.
Dundee also owns the Back River gold exploration project in Nunavut and an 80% interest in the Kapan Mine in Armenia.
In Toronto on July 13 Dundee shares were off 2% or 17 to $9.45 on 17,000 shares traded. Over the past year the company has traded between a high of $12.62 and a low of $8.95. It has roughly 60.8 million shares outstanding.
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