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Cauldron Energy Ltd

Cauldron Energy Ltd: Appeal Lodged by Forrest & Forrest Pty Ltd

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Cauldron Energy Ltd (ASX:CXU), in August 2016, received judgment in its favour against Forrest & Forrest Pty Ltd (Forrest) in respect of the Cauldron’s application for exploration licences 08/2385, 08/2386 and 08/2387 (ELA's).

On 26 August 2016, The Honourable Justice Tottle handed down his decision dismissing the Forrest Application and making formal orders for Forrest to pay the company’s costs.

The ELA's have been targeted by Cauldron to further consolidate the company’s interest holdings in the Yanrey Project region.

Cauldron’s success against Forrest’s legal challenge marks a significant step towards the company being formally granted the exploration licences.


Received notice


Cauldron today has said that it has received notice that Forrest has lodged an appeal in the Western Australian Court of Appeal against the decision.

The date of the hearing of the appeal has not been fixed. The company said it will inform shareholders of any material developments.

Tony Sage, Executive Chairman, told Proactive Investors: “This is unfortunate as explorers like Cauldron should spend shareholder funds in the ground and not on unnecessary litigation."

This issue has been decided twice already by the relevant authorities.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Cauldron Energy Ltd

Price: $0.02

Market: ASX
Market Cap: $5.6 m
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