Mines Management Inc. (TSX:MGT,NYSEMKT:MGN) released a statement aimed at dispersing accurate information about recent federal and state court rulings regarding its Montana-based Montanore silver-copper project.
As quoted in the press release:
MMI received favorable rulings earlier this year in both the state and federal lawsuits pertaining to the Montanore project. In January, the Montana Supreme Court reversed a March 2013 state district court ruling on the validity of the unpatented mineral claims, now owned by Optima Inc., by vacating an injunctive order due, in part, to faulty reasoning and lack of evidence.
In addition, based upon a June 2013 lawsuit filed by the Company, the U.S. District Court in Missoula (1) granted in March 2014, MMI’s motion for a preliminary condemnation order giving MMI an easement through the alleged unpatented mineral claims controlled by Optima; and (2) issued an injunction to prevent interference with MMI’s use of the Libby Creek adit.
The federal court ruling confirms the Company’s ongoing unimpeded use of the Libby Adit, which we have continued to maintain in accordance with our current operating permit.
Glenn Dobbs, chairman and CEO of Mines Management, commented:
Mines Management is vigorously responding to Optima on all fronts, including in the courts. Among other things, the Company has filed a motion to strike Optima’s demand for $10 million as compensation for MMI’s successful condemnation of a right of way through Optima’s asserted claims. We believe that Optima’s claim for $10 million is frivolous because it attempts to establish value based upon the wrong measure, not in accordance with the law, and we are confident our legal initiatives will continue to be successful.
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