Proactive Investors - Run By Investors For Investors

Lydian updates on Armenian court of appeal decision in company’s favour

The criminal court of Armenia has ruled that police must file criminal charges and initiate an investigation against the protesters illegally blockading the Amsular project site
gavel
Lydian has been involved in legal actions in Armenia related to the protests since July 2018

Lydian International Limited (TSE:LYD) reported that the criminal court of Armenia has ruled that police must file criminal charges and initiate an investigation against the protesters illegally blockading the Amsular project site.

Last week, Armenia’s Criminal Court of Appeal rejected the appeal filed by the Vayots Dzor regional prosecutor requesting that a January ruling in Lydian’s favour be overturned.

The ruling established that the police failed to initiate a criminal case based on the alleged violations.

READ: Lydian shares soar after Armenian courts grant order to remove trespassers from Amsular project

“Lydian has suffered unlawful actions and inactions that have been in breach of both Armenian and international law,” said João Carrêlo, Lydian’s president and CEO. “The recent rulings of the courts in Armenia support Lydian’s position with respect to the illegal road blockades that have deprived Lydian of its legal right to operate.

“We hope that the Armenian authorities will follow up promptly on the court rulings and initiate criminal proceedings and remedy the damage caused to Lydian by the illegal road blockades.”

The prosecutor has 15 days from the date of judgement to appeal to Armenia’s federal court, the Cassation Court of Armenia. If no appeal is brought forward or if the appeal is rejected, the prosecutor must begin a criminal investigation of the protesters under the Hooliganism and Arrogation Acts of the Armenian Criminal Code.

Based in Toronto, Lydian has been involved in legal actions in Armenia related to the protests since July 2018.

Amulsar, in south-central Armenia, is expected to be a large-scale operation with annual gold production averaging around 225,000 ounces over a 10-year mine life.

Shares of Lydian are up around 6% at $0.18 in Toronto.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

View full LYD profile View Profile

Lydian International Ltd. Timeline

Related Articles

A gold key
February 14 2019
Construction started in August, and the surface tailings company met its targeted start of commissioning, CEO Daniel Pretorius said on a conference call
1557327487_Gold-bar-plus-nugget.jpg
May 09 2019
Landore has made rapid progress with the BAM project
gold mine
May 09 2019
Drilling at Kochang is scheduled for July with process plant construction to start in September
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use