EQUATORIAL RESOURCES LIMITED

Equatorial Resources Limited to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa.
Project consists of major landholdings in Guinea's Nimba Iron Ore Corridor, including 100% ownership of the Nimba West permit and 56% of the Nimba North permit.
Acquisition is subject to due diligence, and consideration for the acquisition includes 5,000,000 shares in Equatorial upon settlement and an additional 5,000,000 deferred shares upon the renewal or extension of the Nimba West permit.

2023-04-21 08:19:00

Equatorial Resources filed a Memorial of Claim at the International Centre for Settlement of Investment Disputes (ICSID) against the Republic of Congo.
This is related to Congo's unlawful measures taken against Equatorial's iron ore projects, Badondo and Mayoko-Moussondji, including expropriation and revocation of the exploitation permit.
Equatorial is seeking compensation for treaty violations and damages ranging from US$394 million to US$1,134 million.

2023-03-16 10:40:00

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