A junior based in the Ottawa area, Kinbauri Gold, hopes that a damage lawsuit with International African Mining Gold (IAMGOLD) of Markham, Ont., can be resolved in the near future so that it can begin exploration on its diamond properties in the Kirkland Lake area.
Kinbauri launched the $3-million suit after IAMGOLD terminated a planned amalgamation with Kinbauri. Currently delisted from the Alberta Stock Exchange, Kinbauri plans to re-apply for a listing once the litigation is settled.
IAMGOLD is a private Canadian company that holds a gold mining concession in Western Africa in the country of Mali, near the Senegal border. One of Kinbauri’s diamond plays, the Alfie Creek kimberlite property, has already been optioned to Glencairn Explorations (TSE).
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