Lindian halts exploration in the Philippines
PERTH (miningweekly.com) – ASX-listed junior Lindian Resources has suspended exploration work at its Masapelid copper/silver/gold project, in the Philippines, after failing to secure a renewal of its exploration licence.
Lindian’s rights to the project are held through a contractual agreement with San Manuel Mining Corporation (SMMC), which in December 2010 applied to the Mines and Geosciences Bureau and its parent department, the Department of Environment and Natural Resources (DENR) for a two-year renewal of the exploration period.
SMMC has now received a letter from the DENR, denying the renewal application.
Lindian told shareholders that as a result of this denial, the company had suspended exploration activities.
The ASX-listed Lindian has sought review of the DENR decision, which supports that the DENR had erred in its rationale for arriving at the decision. The company said that it had also been advised that there had been a denial of due process in the DENR decision-making process, in that a key document was withheld from the parties, in preparation of their submission to DENR.
Lindian said that based on this legal position and in response to the DENR decision, the company and SMMC have prepared a Motion for Reconsideration. The parties had 15 days in which to prepare and submit the Motion for Reconsideration.
A range of further appeal options were also available if the Motion for Reconsideration failed, including an appeal to the office of the President, and if necessary, the courts.
Lindian started drilling at the Masapelid project in June last year, and had been hoping to define a Joint Ore Reserves Committee-compliant resource within 12 months.
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