The next round in the 6-year-old legal battle between Metalore Resources (TSE) and Ontex Resources (ASE) over 189 gold claims near Beardmore Ont., is set to begin on Jan. 11, 1993.
On that date, an Ontario court will hear Metalore’s appeal of Justice Robert Montgomery’s December, 1990, decision to award 18 claims containing the Brookbank gold deposit to Ontex.
Metalore is also appealing a court ruling that 471 claims, staked by Metalore after the Brookbank discovery was made, be held in a constructive trust for Ontex. In an 80-page ruling, Montgomery rescinded two contracts signed in 1981 and 1983 and fined Metalore President George Chilean $80,000 for fraud and breach of fiduciary duty.
The lawsuit, which has cost Ontex about $3.5 million since it began in June, 1986, has held up development of the Brookbank gold deposit, hosting preliminary reserves of 1.4 million tons grading 0.26 oz. gold per ton.
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