Leading Edge Materials Corp., Canada, (TSXV: LEM) (Nasdaq First North: LEMSE ) (OTCQB: LEMIF) has provided a further update on the tender process for the Bihor Sud Exploration License in Romania.
As announced on January 29, 2020, the adjudication of the competitive tender round for the Bihor Sud Exploration License by the Agenţia Natională Pentru Resurse Minerale (“NAMR”) has been suspended while the Bucharest Court of Appeal is judging an appeal against NAMR lodged by the competing bidder for the exploration license, Global Centurions S.R.L. (the “Case”).
The Company has been informed that the Court published a ruling today dismissing the Case in full as ungrounded. The Court will now proceed to serve the parties of the Case with the full ruling upon which a 15-day appeal window opens. Subject to the ruling not being appealed, the ruling becomes final and NAMR can reinstate the adjudication process of the competing bids for the Exploration License. Leading Edge Materials will advise the market as further information becomes available.
The Bihor Sud Exploration License application covers 25 square kilometers in the Northern Apuseni Mountains of Transylvania. Bihor Sud lies within the Western Tethyan Metallogenic Belt, a well-mineralized district that includes the Timok copper-gold project along with the Skouries, Chelopech, Bor and Majdanpek deposits. The Northern Apuseni Mountains are famous for high grade skarn and carbonate replacement mineralization with historic production of Cu, Mo, Ag, Au, Zn, U and Pb associated with Tethyan Arc intrusions. The area under application includes a substantial former mine that was closed in 1998.
About Leading Edge Materials
Leading Edge Materials is a Canadian public company focused on developing a portfolio of critical raw material projects located in the European Union. Critical raw materials are determined as such by the European Union based on their economic importance and supply risk. They are directly linked to high growth technologies such as lithium-ion batteries and permanent magnets for electric motors and wind power that underpin the sustainability transition of society. The portfolio of projects includes the 100% owned Woxna Graphite mine (Sweden), Norra Kärr HREE project (Sweden), Bergby lithium project (Sweden) and the 51% owned Bihor Sud Nickel Cobalt exploration alliance (Romania).