All tagged Kidman Resources ASX:KDR
Kidman Resources (ASX: KDR) has received notification of the recommendation from the Perth Mining Warden to the (WA) Minister for Mines and Petroleum that applications for exemption from minimum expenditure obligations on tenements related to the Mt Holland Lithium Project be refused. The exemption applications relate to the period August 2014 to March 2016 (which was before Kidman acquired the Mt Holland Project) and affect 13 tenements at Mt Holland. The Warden’s recommendation is not binding on the Minister, and the Minister has the discretion to grant certificates of exemption to Kidman. The Company believes there are compelling reasons for the Minister to exercise his power under the Mining Act to grant the exemptions.
Kidman Resources Limited (KDR) is pleased to advise the market of its successful defence of the proceedings brought in the WA Supreme Court by Marindi Metals Limited (MZN). Justice Kenneth Martin has given his decision on the question of costs and has ordered MZN to pay the Company’s costs of the proceedings. His Honour further ordered that these costs be paid by MZN on a full indemnity basis from 1 March 2017.
Work is under way on the Mt Holland integrated lithium project after Kidman Resources (ASX: KDR) and SQM (NYSE: SQM) today confirmed they had finalised terms governing their $US110 million Joint Venture. The JV will focus on developing a mine and concentrator at the Earl Grey spodumene deposit, south of Southern Cross in WA, and advancing studies into a lithium hydroxide and lithium carbonate refinery, also in WA.
Kidman Resources (ASX: KDR) has signed off on a landmark quarter during which it formally engaged with Chilean lithium leader SQM on the proposed formation of a 50-50 joint venture to develop the integrated Mt Holland mine and refinery project, and successfully defended a legal challenge to its lithium rights at Mt Holland. Work continues on feasibility studies while Kidman and SQM want to complete JV documentation by September 30.
Kidman Resources (ASX: KDR) has welcomed David Southam to its board as a Non-Executive Director. Mr Southam brings extensive industry experience, including capital markets expertise and familiarity with joint ventures. His appointment comes on the back of a lithium farm-in and joint venture agreement with Western Areas Limited (ASX: WSA) under which WSA became a substantial shareholder of Kidman and was granted the right to appoint a Non-Executive Director.
Earl Grey deposit to underpin a proposed new WA lithium refinery in JV with SQM
Kidman Resources (ASX:KDR) has struck a landmark joint venture with Chilean lithium giant SQM (NYSE:SQM) to develop the Mt Holland project near Southern Cross and a proposed lithium refinery in Western Australia. The 50-50 JV will include SQM paying Kidman $US30m and committing $US80m towards the mine and refinery developments. The JV marks SQM's first foray into Australia, driven by the quality of the world-class Earl Grey spodumene deposit at Mt Holland.
Kidman Resources Limited (ASX: KDR) this week concluded the trial to defend ownership of its lithium rights at the Mt Holland project, including the Earl Grey deposit. The trial, heard by Supreme Court Justice Kenneth Martin, concluded ahead of schedule and dealt with the issue of whether any agreement existed with Marindi Metals Ltd (ASX: MZN) over the lithium rights to Mt Holland. Justice Martin reserved his judgement at the end of today’s proceedings, with a final decision to be handed down in due course.
Kidman Resources Limited (ASX: KDR) is pleased to advise that at a Special Appointment of the Supreme Court of Western Australia held today, Justice Kenneth Martin granted Kidman’s request to separate any determination of damages (if required) in the proceedings commenced in November 2016 by Marindi Metals Limited (ASX: MZN). Justice Martin also ordered Marindi Metals to pay Kidman's costs for today's hearing.
Kidman Resources (ASX: KDR) appeared at a directions hearing, before Justice Kenneth Martin, in the Supreme Court of Western Australia today in regards to proceedings issued by Marindi Metals (ASX: MZN) in November 2016. Kidman was represented by Maddocks at the hearing and was pleased the Court has agreed with its request that the trial be held at the earliest opportunity commencing on 29 May 2017. The Court also ordered the parties attend a compulsory court-supervised mediation at the first available date prior to 29 May 2017.
Kidman Resources has advised the market that it has today entered a notice of appearance in the proceedings commenced by Marindi Metals in the Western Australian Supreme Court, despite not yet being validly served the Writ of Summons. Marindi now has 14 days to provide further details of its claim regarding the lithium rights on the Mt Holland project. Kidman has taken this unusual step in order to avoid further delays and to bring certainty to the situation as soon as possible.