Canada Lithium Sued Over Resource Estimate

Apr. 11, 2011 02:43PM PST

Reuters Africa reports that Canada Lithium Corp (TSE:CLQ) is facing a class action lawsuit demanding C$50 million ($52 million) in damages over a resource estimate at the company’s Quebec lithium project.

Reuters Africa reports that Canada Lithium Corp (TSX:CLQ) is facing a class action lawsuit demanding C$50 million ($52 million) in damages over a resource estimate at the company’s Quebec lithium project.

The market news is quoted as saying:

The company said in February that it was appointing an independent third party to review the resource estimate for the project, after an internal review indicated a material reduction in the measured, indicated and inferred mineral resource.

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