There may be a long way to go, but Ontex Resources has won the first round in a court battle to regain the Brookbank gold property near Beardmore, Ont. from Metalore Resources.
Ontex says Justice D.H. Carruthers recently dismissed an appeal by Metalore relating to an Ontario Supreme Court decision on a claim filed by Ontex which was handed down Oct 30.
In June, 1986, Ontex filed a lawsuit against Metalore seeking $500 million in damages or return of the Brookbank property. Ontex alleges that before it acquired a 100% interest in the property from Ontex in 1983, Metalore made a significant gold find there which it didn’t report.
On Oct 30 the Ontario Supreme Court rejected Metalore’s attempt to have the lawsuit dismissed.
According to Ontex, it was awarded the cost of appeal and the company has also been allowed a separate motion to amend its statement of claim. While Metalore has opposed the motion, Ontex has been awarded the costs of the motion payable in the cause.
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