South African Chamber of Mines increases wage offer

Offers 8 percent

Post By : Diamond World News Service On 17 August 2007 12:00 AM
SHORE GOLD said that the previous action announced by De Beers Canada against Shore, Kensington Resources and two other defendants has been dismissed with the consent of all parties. Now De Beers will not be able to pursue any further appeal. %%According to reports, Kenneth E. MacNeill, Shore Golds president and CEO, believes that this dismissal will end any potential appeal by De Beers to the Supreme Court of Canada. The Voting Agreement has been confirmed as a valid agreement by the courts.%%De Beers had sought a declaration that the Voting Agreement relating to the Fort a la Corne Joint venture (FALC JV) was void. Also an injunction to restrain the defendants from holding a management committee meeting of the FALC JV for voting was sought. De Beers sought to restrain defendants from using the Voting Agreement in connection with a management committee vote.

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