A trial date for proceedings between Murchison Metals Ltd and Chameleon Mining NL will be made in early November after a hearing last week ordered Chameleon to front up with the second tranche of security for costs.
Chameleon has been ordered to provide up to $450,000 by October 10 for its claim that it has a material interest Crossland Resources Ltd, a Murchison company that operates the mining operations.
Additionally Chameleon has also been ordered to file lay evidence in reply to evidence provided by Murchison and other respondents.
In a statement today, Murchison said another directions hearing has been scheduled for November 6, at which time the Federal Court hopes to be in a position to set a trial date.
Murchison has been aiming for the matter to head to trial, and today reiterated its confidence that Chameleon's claims have no sustainable basis.
Murchison's announcement is pasted below:
Murchison Metals Ltd ("Murchison") is pleased to provide an update on the litigation commenced by Chameleon Mining NL ("Chameleon") against Murchison, Crosslands Resources Ltd (in which Murchison has a 50% interest) and several other parties.
At a directions hearing in the Federal Court on 18 September 2008, orders to the following effect were made:
Chameleon has until 10 October 2008 to file lay evidence in reply to evidence filed by Murchison and the other respondents;
Chameleon is to provide the second tranche of security for costs for Murchison and Crosslands, in an amount of $300,000, by 10 October.
Chameleon must provide the second tranche of security for costs for the third and fifth respondents (Barnes and Pinnacle) in an amount of $150,000 by 25 September.
Discovery and inspection of documents is to be completed by 14 November.
The next directions hearing has been scheduled for 6 November. The Court indicated that it hopes to be in a position to set a trial date at that time.
Murchison is pleased with the outcome of the directions hearing and that the matter is moving expeditiously towards a hearing.
Murchison remains confident that there is no sustainable basis for Chameleon's claim for a material interest in theJack Hills or Weld Range tenements and/or Murchison's shares in Crosslands Resources Ltd.
