23rd Jun 2017 09:36
Asa Resource Group plc("Asa Resource", "the Group" or "the Company")
Legal update - Zindico Consortium ("Zindico")
Asa Resource provides the following update on the claim made by Zindico in January this year against Freda Rebecca Gold Mine (FRGM), in which the Group holds an 85% interest.
The Group announced in its last quarterly update on 19 May 2017 that the Zindico applicants had failed to present their Heads of Argument within the prescribed time set by Zimbabwean law. This meant Zindico was barred from being heard by the courts in Zimbabwe and could no longer file an answering affidavit in their claim against FRGM.
Asa Resource now confirms that the claim initiated by Zindico has been served on the Company.
As the Company has previously announced, the Company's board considers these claims to be without either foundation or merit and is instructing its legal team in Zimbabwe to file the requisite paperwork with the court in Zimbabwe.
The mining operations at FRGM are continuing as normal. The Group will make a further announcement as appropriate.
Contact
For more information https://asaresourcegroup.com/ or contact us below.
Asa Resource Group plc
One Fleet Place, London EC4M 7WS
Ian B Dearing, Executive Director, Group General Counsel and Company Secretary
Niall Henry, non-executive Director (Investor Relations)
Nominated Adviser and Broker
SP Angel Corporate Finance LLP
Prince Frederick House, 35-39 Maddox Street, London W1S 2PP
John Mackay, Jeff Keating, Caroline Rowe
Tel: +44 (0) 20 3470 0470
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