Antinuclear

Australian news, and some related international items

In the crooked world of uranium mining deals

Alliance contends that Quasar “engaged in misleading or deceptive conduct” in contravention of Australian trading laws and that Heathgate “assisted or participated in the contraventions committed by Quasar.”……

Alliance takes Four Mile partner to court, World Nuclear News, 12 July 2010 Australia’s Alliance Resources has taken Quasar Resources and Heathgate Resources to court over their failure to disclose information related to the exploration of the Four Mile uranium project in South Australia. The company is also considering constructing a standalone processing plant at Four Mile.
Alliance announced that its wholly-owned subsidiary Alliance Craton Explorer (ACE) had instituted proceedings in the Federal Court of Australia against Quasar and Heathgate, both subsidiaries of US-based General Atomic Technologies Corp.

Quasar is party to a joint venture agreement with ACE under which exploration and more recently development work has been undertaken at the Four Mile project. Heathgate is also a subsidiary of General Atomic Technologies.

ACE said that it is seeking damages and the return from Quasar of its 75% interest in the exploration licence over the Four Mile property arising from Quasar’s and Heathgate’s “failure to disclose information concerning the prospectivity of part of that tenement.”

Alliance contends that Quasar “engaged in misleading or deceptive conduct” in contravention of Australian trading laws and that Heathgate “assisted or participated in the contraventions committed by Quasar.”…………

July 13, 2010 - Posted by | legal, South Australia, uranium | , , , , ,

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