A decision on whether to grant Lac Minerals the right to appeal earlier court rulings awarding ownership of the Williams gold mine in the Hemlo area of northern Ontario to International Corona Resources has been deferred by the Supreme Court of Canada.
Lac sought leave to appeal following a unanimous decision by the Ontario Court of Appeal in October which upheld a March, 1986, ruling by a Supreme Court of Ontario judge. The producing Williams mine was awarded to Corona, which was ordered to pay $154 million to Lac.
A Supreme Court of Canada spokesman in Ottawa said a judgment on an appeal hearing could be expected Dec 17, but failing that, not until January and possibly later. Should the court agree to hear an appeal, a date would be set for the two sides to argue their cases a third time.
The original judge ruled, and the appeal court concurred, that Lac was in breach of fiduciary duty and had used confidential information to its own benefit.
Corona is a 50% owner of the adjacent producing David Bell mine, which is operated by Teck Corp.
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