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Kainantu Resources Ltd ( (TSE:SPMC) ) has provided an update.
South Pacific Metals Corp. announced that the National Court of Papua New Guinea upheld an interim injunction in favor of its subsidiary, Kainantu Resources Limited, against K92 Mining and the Mineral Resources Authority. This injunction prevents K92 Mining from interfering with SPMC’s exclusive rights over Exploration Licence EL2558, a key area for the company’s exploration efforts. The court’s decision supports SPMC’s legal stance and could impact its strategic operations and stakeholder interests, as the company seeks to protect its exploration rights and maintain the integrity of its projects.
More about Kainantu Resources Ltd
South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea’s gold and copper production corridors. The company holds a 3,100 km² land package with projects such as Osena, Anga, Kili Teke, and May River, which are strategically located near major producers and have potential for significant mineral discoveries.
Average Trading Volume: 110,123
Technical Sentiment Signal: Buy
Current Market Cap: C$40.96M
For a thorough assessment of SPMC stock, go to TipRanks’ Stock Analysis page.