An Ontario court has ordered privately held Extender Minerals of Canada to cover $195,000 in legal costs incurred by VenCan Gold (VCG-M) following the dismissal of Extender’s allegation that VenCan wrongfully dealt a 50% interest in production from the Edwards gold mine near Dubreuilville, Ont.
Extender, which is controlled by former VenCan director Robert Hill, had contended that its alleged right of first refusal on the disposition of the Edwards property was ignored by VenCan when that company agreed to let River Gold Mines (RIV-T) develop and operate the mine. But, after a 9-day trial, Extender’s $75-million claim against VenCan was dismissed (T.N.M., June 8-14/98).
Extender has appealed the ruling. At the end of 1997, reserves at Edwards totalled 156,000 tonnes grading 12.09 grams gold per tonne.
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