05:30:02 EDT Tue 09 Jun 2026
Enter Symbol
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Avanti Mining Inc
Symbol AVT
Shares Issued 361,613,537
Close 2010-08-24 C$ 0.16
Market Cap C$ 57,858,166
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Avanti Mining wins Kitsault access case

2010-08-25 14:00 ET - Street Wire

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by Mike Caswell

Avanti Mining Inc. has won its legal battle to access the old Kitsault mine through the ghost town of Kitsault. In a decision handed down on Aug. 23, 2010, the Supreme Court of British Columbia has ruled that the town's owner, which plans to create a resort at the site and has been physically blocking a key bridge, must permit access for mining purposes.

Avanti has been fighting to cross the town since Sept. 4, 2008, when it filed a statement of claim against the owner, Kitsault Resort Ltd. The claim stated that the company had tried to enter the site to investigate a possible drill location months earlier, only to be turned away by a Kitsault Resort representative. Avanti argued that the town's title includes a statutory right-of-way granting access for mining work. The company presented its case to Supreme Court Justice Brian Joyce during a three-day trial in April, 2010.

In his decision, the judge has granted Avanti a declaration that it is entitled to traverse the town. He dismissed Kitsault Resort's argument that the right-of-way ended when remediation on the old mine was done. The judge has also entered an injunction restraining Kitsault Resort from obstructing access or preventing mining work.

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great, now all they need is $650 million which should be pretty easy to come by given all the moly they have. with over 300 million shares out and already in debt, i smell Adanac 2 in the making.

Posted by ishkabibble at 2010-08-25 15:09


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