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Tsodilo Resources Limited High Court of Botswana Interdicts and Restrains the Minister of Mines and Energy with Respect to Gcwihaba Prospecting Licenses PL021-024/2018
TORONTO, ON / ACCESSWIRE / September 27, 2023 / Tsodilo Resources Limited ("Tsodilo" or the "Com...
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[{"type":"text","content":"Tsodilo Resources Limited High Court of Botswana Interdicts and Restrains the Minister of Mines and Energy with Respect to Gcwihaba Prospecting Licenses PL021-024/2018TORONTO, ON / ACCESSWIRE / September 27, 2023 / Tsodilo Resources Limited (\"Tsodilo\" or the \"Company\") (TSX-V:TSD)(OTCQB:TSDRF)(FSE:TZO) announces that the High Court of Botswana has today rendered an order that interdicts and restrains Minister of Mines and Energy, through theDepartment of Mines or any other Department from receiving, considering or assessing the renewal applications in relation to Prospecting Licenses PL's 021024/2018 pending the delivery of the judgement in the Applicant's review application with respect to Prospecting License PL021/2018.James M. Bruchs, Chairman and CEO, commented \"The issue is relatively straight forward, pursuant to Section 19 of the Mines and Minerals Act (Act), contiguous prospecting licences covering the same period and the same mineral or minerals, the Minister shall, for the purposes of the elimination (reduction) of part of any of the areas thereof, permit the areas covered thereby to be deemed to be one area, the subject of one such prospecting licence. The Xaudum Iron Formation (XIF) project extends for a known length of some 40 kilometers and traverses most if not all of the licenses set forth below. The effect of granting some of the PL's at one time and not all of the contiguous licenses that form the project effectively diminishes the value or potential of the project as it impacts the evaluation and exploration activities. We believe the Act makes it clear that it is the discretion of the license holder to determine which areas to retain and which areas to relinquish as it protects the license holder from instances where one would be required to relinquish the prospective area and keep the non-prospective area. Given that one of our prayers for relief in our PL020/2018 review application is to re-align the 5 licenses so that their durations remain coherent with one another, we felt it timely that any actions with respect to PL's 021-024/2018 be stayed as the date for the renewal applications was imminent\".PL No.Grant DateArea km21st RenewalFiling Date1st RenewalGrant DateArea km2020/201810/01/18570.06/30/2021Pending447.7021/201810/01/18964.96/30/20211/01/2022572.5022/201810/01/18317.16/30/20211/01/2022160.4...