Shaw River Manganese (ASX: SRR) has provided an update to the market in respect to legal action in Namibia, and advises that the company is the process of finalising legal advice and strategy.
Shaw River said as such, the company is not currently in a position to make a more detailed announcement and lift the suspension of its shares, or finalise its audited financial statements.
The company has received initial legal advice from Namibian Senior Counsel and remains confident of a positive outcome in this matter.
Shaw River holds 75.5% of the Otjozondu Manganese Project in Namibia, which is targeting low cost manganese production and significant cash flows from 2012.
A big plus for the project is the nearby infrastructure, including established road, rail and port access to Walvis Bay.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/20313/shaw-river-manganese-updates-the-market-on-voluntary-suspension-pending-namibian-update-20313.html
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