American Lithium secures legal win as Peruvian court confirms ownership of 32 concessions
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(Kitco News) - American Lithium (TSX-V: LI) (NASDAQ: AMLI) announced on Wednesday that Peruvian Superior Court has unanimously confirmed title of the company’s 32 disputed mineral concessions out of 172 owned by American Lithium.
In a statement, American Lithium said that the Court ruling, consistent with prior legal proceedings, “clearly establishes” that Macusani Yellowcake, the company’s subsidiary, is the “rightful owner” of these concessions.
CEO Simon Clarke said, “We are extremely pleased with this ruling as it validates the company’s contention that the actions of INGEMMET and MINEM were inappropriate from the start of this process. It is very encouraging to see that the Peruvian Judicial System continues to support the facts of this case and has found against INGEMMET and MINEM for the actions they have taken.
“The company has never lost title over the disputed concessions, which only represent a small fraction of our leases. For this reason, we have continued to advance the Falchani project and look forward to the announcement of additional progress shortly.”
American Lithium is currently focused on the continued development of its strategically located TLC lithium claystone project in the richly mineralized Esmeralda lithium district in Nevada, as well as continuing to advance its Falchani hard-rock lithium project and Macusani uranium project in southeastern Peru.