logo-loader
viewLydian International Ltd.

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

Quick facts: Lydian International Ltd.

Price: 0.075 CAD

TSX:LYD
Market: TSX
Market Cap: $57 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Lydian International Ltd. named herein, including the promotion by the Company of Lydian International Ltd. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Lydian International full steam ahead with construction building Armenia's...

Howard Stevenson, chief executive of the Armenia-focused gold mine developer Lydian International Ltd (TSE:LYD), updates Proactive's Andrew Scott on the construction of their Amulsar project. Gold output, beginning in 2018, is targeted to average greater than 200,000 ounces per year over...

on 9/9/17

2 min read