The Expropriation Compensation Board has determined the amount of compensation to be awarded to Casamiro Resource (VSE) and two private co-claimants for their interests in 19 Crown-granted mineral claims on Vancouver Island, B.C.
In a 92-page decision, the board ruled that the market value for the expropriated claims within Strathcona Park is $375,000. The board also awarded interest which increased this amount to $630,000.
The ruling was a bitter disappointment for Casamiro and its co-claimants which were seeking $15.8 million plus interest, penalties and taxes. The parties are reviewing the decision and expect to release details “as further events require.”
Previous work on the property, including $550,000 of exploration expenditures in 1987-88 alone, outlined what is probably a small gold reserve as well as a number of gold showings.
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