A lawsuit filed against Teck (TSE) by Bridger Resources (VSE) is proceeding in the Supreme Court of British Columbia at the examination-for-discovery stage.
The statement of claims alleges that Teck agreed to lend an US$800,000 property payment, due to the vendor of the La Pepa mine in Chile, to Bridger in September, 1990.
Bridger also alleges that Teck breached this agreement and did not make the loan, which resulted in it losing a substantial part of its investment in the mine.
During 1992, a subsidiary of Bridger received a 3.5% gross proceeds royalty on production from the mine. In 1992, the company will receive a 7% royalty on gross proceeds of production.
Bridger is now forming a joint venture to pursue new opportunities in Chile.
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