Slovakian_Update_20150805
Forte Energy NL ACN 009 087 852
AIM Release
5 August 2015
SLOVAKIAN UPDATE
Forte Energy NL ("Forte" or "the Company") (AIM: FTE), provides the following update on its operations in the Slovak Republic.
LEGAL PROCEEDINGS
The Company advised on 14 June 2015 that lawyers acting on behalf of Ludovika Energy, the Slovak subsidiary that held the Kursiskova Uranium permit, had filed court proceedings against the Ministry of Environment ("Ministry"), in Slovakia in respect to its decision not to grant the extension of the Uranium Permits.
The Company now advises that Ludovika Energy is in the final stages of negotiating an agreement with its lawyers that would see the deferment of any payment of fees or costs associated with the proceedings until the outcome of those proceedings is determined, with fees payable only if the outcome is favourable.
LICENCE APPLICATIONS
The Company also advises that the applications Ludovika currently has before the Ministry for Rare Earth exploration licences over the area of the Kuriskova and Novoveska Huta uranium projects are still being processed by the Ministry.
The Company will update shareholders as developments occur.
As stated previously, shareholders should note that the legal proceedings are separate and independent to the applications that Ludovika has before the Ministry for Rare Earths.
For further information contact: Mark Reilly, Managing Director
Forte Energy NL Tel: +61 (0) 8 9322 4071
Oliver Morse
RFC Ambrian Ltd Tel: +61 (0) 8 9480 2500 (AIM Nominated Adviser to the Company)
Forte Energy NL
Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
Ph: +61 (0)8 9322 4071
Fax: +61 (0)8 9322 4073
Email: [email protected]
Web: www.forteenergy.com.au