Equatorial Resources Limited (AU:EQX) has released an update.
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Equatorial Resources Limited reported significant progress in its Nimba Alliance Iron Ore Project in Guinea, with the identification of five high-priority iron ore targets and the anticipation of assay results from over 150 grab samples taken, which could potentially lead to an expanded field program. The company also celebrated a legal victory as the international tribunal dismissed the Republic of Congo’s counterclaims against its subsidiary in an ongoing arbitration case, with Equatorial seeking compensation of up to $1.134 billion for violations under the Congo-Mauritius BIT. Financially, Equatorial remains robust with $14.1 million in cash reserves to support its exploration and legal pursuits.
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