Home > Boards > Canadian > Mining/Resources > Lydian Intl Ltd Ord (LYDIF)

As most people know, Lydian International had a

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stargazer123   Thursday, 10/10/19 11:29:52 AM
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As most people know, Lydian International had a mining concession in Armenia with reserves of 2.6 million troy ounces of gold.

The economic studies for the mine were completed, the necessary permits were obtained, the project financing was secured and the mine construction was well underway, with first gold pour and commercial production expected in second quarter of 2018. However, in the late spring of 2018, a new government took over. Natives throughout the country started blocking and attacking mines, including Lydian.

Even though the new government and courts say that the blocking of the roads to the mine by the native people is illegal, the government and the courts are refusing to have the road blocks removed.

Looks like they are just mouthing off platitudes and are in reality not only not planning on doing anything to stop the blockade, they are for the blockade and want Lydian to go bankrupt and leave.

The government can then take over the mine site and develop the mine for themselves, knowing that Lydian did all the work and spent all the money drilling and locating the ore, and getting the site ready for the mine.

Just another third world country confiscating a mine.


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