HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Claim Ownership

Claim Ownership

posted on Jun 09, 2008 03:47PM

In Ontario, the ownership of mining lands (i.e. claims) is not a trivial issue. This really came to light in the case of International Corona vs Lac Minerals in the 80s in their dispute over Au claims in the Hemlo area. Taken to the Supreme court in 1987, Lac's appeal of an earlier court decision in favour of International Corona, was dismissed, which essentially gave International Corona undisputed ownership of the Williams' claims, on which Lac had already constructed a mining complex. This decision in Corona's favour represented the loss to Lac of some 100'sM $.

In Ontario, my understanding is that there is a 5-tiered system of resolving "mining lands" disputes, but don't quote me on the details.

1. Both parties resolve the issues

2. Failing a resolution, a dispute can be filed with the Provincial Mining Recorder's office for a decision

3. Either party may appeal the decision to the Mining and Lands Commissioner's Office for a decision

4. The Commissioner's decison may be appealed or a separate action may be launched in Civil Court

5. Either party may appeal the Court's decision to the Supreme Court.



Pretty heavy stuff, but look at what could be at stake. At an intermediate stage in exploration, once significant mineralization has been identified, a company should have a legal survey conducted of their claims. Any J/V agreements or others involving obligations should be vented through lawyers very experienced in mining negotiations/contracts/local statutes. I have the greatest confidence that NOT has, or will have, taken appropriate actions to protect shareholders' interests.

Respectfully submitted for comments



geoprof

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