New PRORIGINAL: Deep-South Files Applications with High Court of Namibia Concerning Haib Copper Licence Refusal
2021-07-21 10:27 ET - News Release
VANCOUVER, BC, July 21, 2021 /PRNewswire/ - Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM) announces that the Namibian legal counsel of the Company and its subsidiary, Haib Minerals (Pty) Ltd ("Haib"), have filed an application on behalf of Haib with the High Court of Namibia for an order reviewing the decision of the Minister of Mines and Energy ("Minister") refusing the renewal of Haib's licence EPL 3140 ("Licence") covering the Haib Copper project in Namibia. The application also seeks an urgent interdict aimed at preventing the Ministry of Mines and Energy of Namibia ("Ministry") from granting a licence over the same licence area to anyone else.
The respondents to the Affidavit are the Minister of Mines and Energy, the Mining Commissioner and Orange River Exploration and Mining CC. Orange River is cited due to its possible interest in the matter since it applied for an Exclusive Prospecting Licence extending over the Haib Copper deposit on November 12, 2020.
The Company will provide regular updates in this regard and any other matter concerning this situation.
The Company intends to vigorously contest the Minister's decision by all means necessary and available under the applicable laws of Namibia and international laws. The Company maintains that in its application for renewal and subsequent representations made it clearly demonstrated having met all criteria under the Minerals (Prospecting and Mining) Act 1992 and licence conditions to justify the renewal of its Licence.
As disclosed in our press release dated June 16, 2021, the Company had received notice from the Ministry informing the Company that its application for the renewal of its Licence had been denied citing the Company's inability to advance the Licence to Pre-Feasibility and complete the proposed drilling program as planned. The Company maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility (PFS) study to an upgradedPreliminary Economic Assessment (PEA) and the commencement of a full Feasibility Study (FS). The latter was already commenced with at the time of the refusal. Moreover, the Ministry issued all permits required for the drilling program and officials were well aware that Haib had completed the drilling program at the time of the refusal to renew.
As a result of the Minister's refusal to renew the Licence, the Company has terminated all work on site and regrettably proceeded with the retrenchment of its employees on site.
The Company is also investigating its international legal options and will disclose its strategy in due course.
Company development
Recovering the rights of Haib Copper remains the number one priority of the Company. However, Management of Deep-South was already looking at other projects before the situation arose with the Haib licence. It is important to carry on with the development of the company and start again adding value for shareholders. Our team is currently evaluating projects. We have identified copper and gold exploration projects that have the potential for world class discoveries and resources. We will keep our shareholders informed timely of any new developments.