Su­pe­rior Gold starts lit­i­ga­tion against Vango Min­ing

Stockwatch Daily - - MINES & METALS - Mr. Brian Szeto re­ports

SU­PE­RIOR GOLD Inc.’s wholly owned sub­sidiary, Bil­l­abong Gold Pty. Ltd., has com­menced le­gal pro­ceed­ings against Vango Min­ing Ltd. and its wholly owned sub­sidiary Dampier (Plu­tonic) Pty. Ltd. (DPPL) with re­spect to ten­e­ments to the north­east of and sep­a­rate from its 100-per­cent-owned Plu­tonic gold mine prop­erty lo­cated 800 kilo­me­tres north­east of Perth.

Bil­l­abong’s claim arises out of an ore treat­ment agree­ment (OTA) en­tered into on Sept. 23, 2014, by North­ern Star Re­sources Ltd., Vango and DPPL, which North­ern Star as­signed to Bil­l­abong in Oc­to­ber, 2016.

Bil­l­abong claims it held rights of first re­fusal un­der the OTA in re­spect to the ten­e­ments within Vango’s Plu­tonic Dome project in West­ern Aus­tralia, and that these rights were breached with re­spect to cer­tain of Vango’s and DPPL’s in­tended and ac­tual trans­ac­tions in 2016 and 2017.

Bil­l­abong is seek­ing reme­dies from the Supreme Court of West­ern Aus­tralia in re­spect to the al­leged breaches.

Chris Brad­brook, pres­i­dent and chief ex­ec­u­tive of­fi­cer of Su­pe­rior Gold, stated: “It is dis­ap­point­ing that our ef­forts to re­solve this dis­pute with­out lit­i­ga­tion have been un­suc­cess­ful. Not­with­stand­ing our claims, the in­fra­struc­ture at our Plu­tonic gold mine, which cur­rently has ex­cess mill ca­pac­ity, po­ten­tially of­fers Vango’s share­hold­ers the op­por­tu­nity to de­velop any fi­nan­cially vi­able mine on the ten­e­ments in the most ex­pe­di­ent and cost-ef­fec­tive man­ner.

“It is im­por­tant to note that the ten­e­ments un­der dis­pute are en­tirely un­re­lated to our 100-per-cent-owned Plu­tonic gold oper­a­tions, which in­clude the Plu­tonic un­der­ground mine and the Her­mes open-pit mine.”

About Su­pe­rior Gold Inc.

Su­pe­rior Gold is a Cana­dian-based gold pro­ducer that owns 100 per cent of the Plu­tonic gold oper­a­tions lo­cated in West­ern Aus­tralia. The Plu­tonic gold oper­a­tions in clude the Plu­tonic gold mine and cen­tral mill, the Her­mes open-pit gold mine, and an in­ter­est in the Bryah basin joint ven­ture. Su­pe­rior Gold is fo­cused on ex­pand­ing pro­duc­tion at the Plu­tonic gold oper­a­tions and build­ing an in­ter­me­di­ate gold pro­ducer with su­pe­rior re­turns for share­hold­ers.

We seek Safe Har­bor.

Christo­pher J Brad­brook, Tamara Lee Brown, Shaun Day, Rene Luis Joseph Mar­ion, Mark Ross Wellings

(SGI) Shares: 95,752,473

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