The Spanish Constitutional Court has rejected an appeal by Exminesa related to royalties owing to Mount Wright Iron Mines (CDN) from the lead-zinc-silver Rubiales mine in Spain.
Exminesa was appealing a ruling by the Spanish Supreme Court awarding Mount Wright $2.9 million for royalties for the period July, 1977 to December, 1988. Mount Wright, 48.5% owned by Lac Minerals (TSE), owns a 1% net smelter royalty in the mine, which entered production in 1977.
Exminesa filed for protection from creditors in June, 1993, and Mount Wright says the protection proceedings remain in place.
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