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Western Troy Provides Update on Exploration Activities and Files Statement of Defense to the Counterclaim of GENIVAR Regarding the MacLeod Lake Feasibility Study
(via Thenewswire.ca) December 21, 2012, Toronto, Ontario - Western Troy Capital Resources (...
About this update from Global Copper Corp
[{"type":"text","content":"\nWestern Troy Provides Update on Exploration Activities and Files Statement of Defense to the Counterclaim of GENIVAR Regarding the MacLeod Lake Feasibility Study\n\n(via Thenewswire.ca)\n\n \nDecember 21, 2012, Toronto, Ontario - Western Troy Capital Resources (TSX Venture: WRY, US-OTC: WTCRF) (Western Troy or the Company) today filed a Statement of Defense to the Counterclaim of GENIVAR, Inc. The document has been filed with the Superior Court of Justice (Toronto). As previously announced, Western Troy filed a Statement of Claims on Friday, September 28, 2012, against GENIVAR Inc. for $3.3 million and certain of their professional managers for $2.2 million for professional negligence in work performed on a feasibility study for Western Troy's MacLeod Lake Copper/Molybdenum Project. On December 7, 2012, Western Troy received a Statement of Defense and Counterclaim from GENIVAR, Inc. That document asserted a counterclaim of $450,000 against Western Troy. Western Troy's filing of today asserts a defense to the counterclaim. The full text of all today's filing will be available soon on Western Troy's Website, www.westerntroy.com. Western Troy's Statement of Claims and GENIVAR's Statement of Defense and Counterclaim from GENIVAR are currently available on Western Troy's Website.\n\n \n \nWestern Troy's CEO, Rex Loesby, commented, \"Western Troy intends to vigorously pursue its claims against GENIVAR to the fullest extent allowed at law. As this process unfolds, Western Troy will continue to evaluate and perform exploration activities on its mineral prospects in Quebec (see below). Our cash position is strong and we have 33.6 million shares outstanding. In addition to exploration activities on our existing prospects, we will continue to look for new opportunities to enhance shareholder value through acquisitions or business combinations.\"\n\n \n \nAt Western Troy's Gaspe Vanadium/Selenium/Silver/Lead/Zinc prospect, a report is expected in December, 2012, from SLR Consulting of Ireland on the appropriate techniques to explore the Mississippi Valley type mineralization that may characterize the Gaspe Prospect. The mineralogy and setting of the Gaspe Prospect closely follows the characteristics of existing mines in Ireland.\n\n \n \nAt Western Troy's Nicobi Nickel Prospect near Val d'Or, Quebec, significant results from previous dril...