Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

Sonora has filed an appeal in the High Court of TZ against cancel licence held by Abdallah Kigoda

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by nngu007, Apr 4, 2011.

  1. nngu007

    nngu007 JF-Expert Member

    #1
    Apr 4, 2011
    Joined: Aug 2, 2010
    Messages: 15,874
    Likes Received: 28
    Trophy Points: 145
    Vancouver, British Columbia March 29, 2011 - Sonora Gold & Silver Corp. (the “Company” or “Sonora”)

    Sonora has filed an appeal in the High Court of Tanzania (the “High Court”) against the decision handed down by the Commissioner for Minerals of the United Republic of Tanzania to cancel the mining license No. ML 413/2010 (the “ML”) held by Abdallah Omary Kigoda (“Mr. Kigoda”) which the Company has an option to acquire under its Amended and Restated Option Agreement with Mr. Kigoda dated October 06, 2010.

    It is the Company’s position that the Honorable Minister for Energy and Minerals erred in law, and in fact, on a number of grounds by issuing the default notice and proceeding to cancel the Mining License. In particular, the Minister should have first addressed the appeal against the Commissioner’s order on December 8, 2010 which itself was unlawful under the Mining Act. The Minister also erred in law, and fact, by cancelling the Mining License on the alleged failure to commence work on the property when the Company was specifically prohibited from conducting any work on the property by the Commissioner’s order. The Company also takes the position that the Minister erred by cancelling the Mining license based on the dealings between the Company and Dr. Kigoda when such dealings were not unlawful under the Mining Act. In addition, the Minister did not take into consideration the interests of the Company in the Mining License obtained through a valid Option Agreement between the Company and Dr. Kigoda.

    “Sonora plans to vigorously defend its rights relating to the Mineral License and will keep shareholders apprised of updates as they occur,” states company President, Ken Churchill.
     
  2. Machiavelli

    Machiavelli Member

    #2
    Apr 6, 2011
    Joined: Oct 3, 2007
    Messages: 72
    Likes Received: 0
    Trophy Points: 13
    February 14, 2011
    Canaco Resolves Mineral Rights Dispute
    ________________________________
    *Vancouver, BC, February 14, 2011*-- Canaco Resources Inc. (TSX-V: CAN) ("Canaco" or the "Company") is pleased to announce that actions by the Tanzanian Ministry of Energy and Minerals have validated Canaco's exclusive mineral rights to the area of the Magambazi discovery located within the Company's Handeni Project in Tanzania.

    Canaco believes that it holds undisputed title to the region and plans to continue drilling to define and delineate the high-grade gold discovery at Magambazi. (For previous disclosure on the property dispute, see Canaco's press releases dated October 18, 2010, October 21, 2010, October 29, 2010, and December 2, 2010, all of which are available on the Company's website at*www.canaco.ca*and on SEDAR under the Company's profile.)

    Subsequent to the Order of the Commissioner for Minerals of The United Republic of Tanzania (see press release dated December 2, 2010), Abdallah Omary Kigoda ("Kigoda") was served with a Default Notice for, among other things, failure to comply with such order. The failure to comply resulted in the cancellation of ML 413/2010 effective February 1, 2011. Further to such cancellation, and in acknowledgement that substantial development work on the conflicted mineral right had already been undertaken by Kigoda, on February 6, 2011, the Minister for Energy and Minerals directed Canaco to provide compensation to Kigoda. The parties have entered into an agreement for such compensation, comprised of a US$2.0 million cash payment and a 2.0% net smelter royalty for minerals recovered from the 0.07 square kilometre area of the former PML 0010145.

    Canaco's management once again expresses appreciation to the government of Tanzania for its support throughout this process.

    About Canaco
    Canaco is a Vancouver-based mineral exploration company focused on advanced exploration in Africa. Built on a foundation of experienced management and focused on rapidly advancing exploration projects in Tanzania and throughout Africa, Canaco is well positioned to build shareholder value through discovery and resource development.

    Canaco's shares trade on the TSX Venture Exchange under the symbol CAN.

    For further information contact:
    Meghan Brown, Director Investor Relations
    tel 604-488-0822 or 1-866-488-0822
    email*investors@canaco.ca
    on the internet*Canaco Resources Inc. - Page - Tue Apr 5, 2011

    On behalf of the Board of Directors:
    Andrew Lee Smith, P.Geo
    President, CEO and Director





    Abdallah Omar Kigoda
    From Wikipedia, the free encyclopedia

    Abdallah Omar Kigoda is a Tanzanian politician and a Member of Parliament in the National Assembly of Tanzania.

    Kigoda is thought to be behind many financial scams Tanzania has ever seen. Under former President Benjamin Mkapa, Kigoda as a member of inner sanctum made a lot of money thanks to being easily used by the regime and some Indian bogus investors.[citation needed]

    He served for a time as Minister of State in the President's Office for Planning and Privatisation. He overwhelmingly won the Chama Cha Mapinduzi (CCM) nomination for Handeni constituency prior to the 2005 parliamentary election, receiving 1,216 votes while the nearest of his four opponents for the nomination received 94.[1]

    Kigoda, Basil Pesambili, Juma Ngasongwa, Rostam Aziz, Lowassa the then PM and others are said to be behind EPA scam under which Chama Cha Mapinduzi (CCM) Tanzania's ruling party stole billions of shillings from the central bank to finance its elections that saw Jakaya Kikwete win.[citation needed]
     
Loading...