THE BOURSE WHISPERER: Atlantic Gold (ASX: ATV) welcomed decision by the Supreme Court of Canada to dismiss a former landholder’s application to appeal previous decisions in regard to ownership of the last private property at the company’s Touquoy gold project.
The appeal was sought by the former landowner of the last remaining private property (of 63) required for development of the Touquoy gold project.
The former landowner made this application after his related appeals were successively dismissed, with costs, first by the Nova Scotia Supreme Court, and then the Nova Scotia Court of Appeal.
In a brief decision, a three-judge panel of the Supreme Court of Canada concluded there were no grounds to merit any further appeal proceedings.
As a result the former landowner now has no further legal avenues to pursue the overturn of the Vesting Order, and this decision comprehensively and definitively concludes the private land acquisition program at Touquoy.
“The dismissal of this application finally and completely vindicates the Minister’s considered decision as empowered by his office under the Mineral Resources Act, and establishes without any doubt the company’s legal right of access to this last of 63 private properties required to advance financing efforts to conclusion and move ahead with the development of the project,” Atlantic Gold said in its ASX announcement.