Lydian Free Access to Amulsar ordered
Court
Orders Police to
Remove
Trespassers!
Lydian
International announced the Administrative Court of the Republic of Armenia
ruled in favour of Lydian and instructed the Armenian Police to remove
trespassers and their property from the Company’s Amulsar Project site and
assure Lydian free passage to Amulsar.
JoĂŁo
CarrĂŞlo, President and CEO of Lydian, stated: “Lydian’s Amulsar Project has
been illegally blockaded since June 22 last year.
While we respect individuals’
right of free expression, we strongly believe this cannot be exercised in an
illegal manner at the expense of the rights of others, meaning in this case
Lydian’s shareholders, lenders, employees, community members, and other
stakeholders.
Lydian
has initiated several legal actions in Armenia since July 2018 to protect the
rights of the Company. This is a long overdue step that we hope will become an
important milestone towards the abolishment of unlawfulness and discrimination
that Lydian has been facing since June 2018. We look forward to the prompt
implementation by the police of the Court’s ruling.”
Lydian
is a gold developer focused on construction at its 100%-owned Amulsar Gold
Project, located in south-central Armenia. However, illegal blockades have
prevented access to Amulsar since late June 2018. Amulsar is expected to be a
large-scale, low-cost operation with production targeted to average
approximately 225K Oz annually over an initial 10-year mine life. Estimated
mineral resources contain 3.5 million measured and indicated gold ounces and
1.3 million inferred gold ounces.
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