Supreme Court Victory
Energy and Minerals Australia Limited (ASX: EMA) is pleased to announce the dismissal of the Supreme Court action brought against its subsidiary Narnoo Mining Pty Ltd. The matter was heard in the Supreme Court of Western Australia in December 2008. The Honourable Justice Le Miere has today handed down his judgement dismissing all Yarri Mining Pty Ltd?s claims.
Yarri Mining has 21 days to lodge an appeal.
The legal action by Yarri Mining presented an unproductive distraction from the Company?s pursuit of increased shareholder value.
Additionally Yarri Mining lodged Plaints and Applications for forfeiture in the Warden?s Court in 2006 and 2007 against tenements E39/876 and E39/877, claiming under-expenditure. Yarri Mining has issued capital of two dollars and a single opaque overseas shareholder.
The success in the Supreme Court today will allow the Company to vigorously pursue resolution of the outstanding Plaints and Applications in the Warden?s Court. The Company does not believe the Plaints or Applications have a reasonable prospect of success and looks forward to final resolution of these matters.
Philip Golding
Chairman
14 May 2009
For further information: Media Inquiries:
Chris Davis Warrick Hazeldine
Managing Director Purple Communication
Tel: (08) 9389 2700 Tel: (08) 6314 6300
Mobile: 0417 902 646 Mobile: 0417 944 616
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