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Additional Information
Market: ASX
Sector: Non Ferrous Metals
Epic: ASX:MMX
News: Latest news
Web Site: Murchison Metals
Other Articles: 06-02-200904-02-200902-02-2009

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Murchison Metals

Murchison Metals

Murchison Metals (ASX:MMX) is a 50% shareholder in Crosslands Resources Ltd, which is the owner of the Jack Hills iron ore project located in the mid-west region of Western Australia.  Mitsubishi Development Pty Ltd is the other 50% partner in Crosslands.  Mining commenced at Jack Hills in 2006.  Initial production from Jack Hills is for 1.5 million tonnes per annum, with a Feasibility Study for expansion underway.
Friday, February 06, 2009

Murchison Metals provides Chameleon litigation update

Murchison Metals (ASX:MMX) has advised that a directions hearing in the proceedings commenced by Chameleon Mining NL (“Chameleon”) against Murchison, Crosslands Resources Ltd and other parties, was held in the Federal Court on 5 February 2009.

At the directions hearing Chameleon sought various orders including that it be permitted to file expert evidence. The effect of the orders sought, if granted, would have been that the provisional trial date of 30 March 2009 would have been vacated and the hearing delayed until mid-2009. In its quarterly report dated 30 January 2009 Chameleon stated that it “maintains its desire to have its claims against Murchison and others determined as expediently as possible”.

Murchison is pleased to advise that Justice Jacobsen refused Chameleon’s application and the hearing
remains set to commence on 30 March 2009.

Murchison notes that in an affidavit filed in support of the application, Chameleon’s solicitor states that, in her belief, if Chameleon is not permitted to adduce the expert evidence which was the basis for the application “it is likely to encounter significant difficulties in proving its case against the Respondents”.

At the hearing the Judge also ordered Chameleon to pay Murchison and Crosslands the third tranche of security for costs in the sum of $225,000 within 14 days. Orders were also made for Chameleon to provide security for costs for the other Respondents. 

The next directions hearing is 12 March 2009.

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