Supreme Court of Queensland upholds Mining Lease ML 4712

Supreme Court of Queensland upholds Mining Lease ML 4712 May 4, 2012

Posted by Fortbridge in Energy, Mining.
Tags: coal, Energy, Mining, mining lease, ML 4712, ogl resources, Supreme Court of Queensland
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OGL Resources Ltd (ASX:OGL) has announced that the Supreme Court of Queensland has upheld the Mining Lease renewal (ML 4712 – Ebenezer Mine) which was the subject of an application by two landowners on the renewal of the Mining Lease (ML 4712) against the Minister for Employment, Skills and Mining on September 15, 2011.

The Mining Lease is one of the two tenements which is under a purchase agreement between OGL and Zedemar Holdings Pty Ltd (Zedemar). OGL shall now continue to complete the acquisition of the two tenements from Zedemar. Due to the delay in progress of this transaction, the date for the completion of the transaction (previously announced as 31st May 2012) has been extended by Zedemar to allow sufficient time for OGL to raise the capital.