Royalties lands two punches over Expo-Ungava

Canadian Royalties (CZZ-V) has won two court judgments in an ongoing dispute with Ungava Minerals over the ownership of the Expo-Ungava property in far northern Quebec.

The dispute centres on an option agreement under which Ungava, as owners of the property, were to transfer a 70% interest to Canadian Royalties on completion of a $1.75-million exploration program.

In one action, Ungava Minerals had sought to set aside a homologation order issued in Quebec Superior Court, which adopted an October 2002 arbitrator’s award in the dispute. The Quebec Superior Court dismissed Ungava’s motion to revoke the order.

In the other action, an arbitration award issued late in November, ordering that Ungava transfer 70% of its interest in the Expo-Ungava property to Canadian Royalties, was homologated by the Superior Court.(Homologation is a Civil Law adoption by a court of decisions made outside the court.)