Leading Edge Materials Corp (CVE:LEM) (OTCMKTS:GULSF) provided an update on its mining lease application in Sweden, saying a local administration board has submitted its opinion to the country’s mining inspection agency.
The board, known as the Länsstyrelsen, does not presently support the regranting of the Norra Kärr mining lease, Leading Edge said late Friday in a statement. The company added that it will review the documentation and provide additional information as it becomes available.
READ: Leading Edge Materials shares up as firm updates on strategic review which includes opportunities for its Woxna graphite mine in Sweden
Shares of Leading Edge traded at C$0.18 in Friday’s Canadian trading. They slipped US$0.02 to US$0.14 on the OTC Markets.
Last week, the company announced that it was looking at opportunities for its flagship Woxna graphite mine in Sweden.
Alternatives include a third-party investment in the mine, a joint venture and a standalone public listing of Woxna on a Swedish exchange.
Contact Dennis Fitzgerald at [email protected]