Applecross-based explorer Prime Minerals has filed a writ for damages in the state's Supreme Court against its corporate advisers after the latter allegedly breached its obligations by offering a project to another company.
Prime Minerals is seeking equitable compensation from Landlife Corporation Pty Ltd, Brett Matich and Colbern Nominees Pty Ltd over a corporate advisory proposal entered into in January 2007.
In a statement, Prime alleges the corporate advisers breached the agreement which provided it exclusivity over potential acquisition or transactions identified by Landlife.
Under the deal, Landlife was paid a retainer of $15,000 a month.
Prime alleges that in February 2007, Landlife facilitated the sale of the Peary Land project in northern Greenland to Subiaco-based Ironbark Gold for $6 million in cash, 3 million shares and 6 million options.
"Prime alleges that the opportunity to acquire the project should have been disclosed to, and offered to, Prime," the company said.
Prime holds a suite of projects prospective for uranium, gold and iron ore in Western Australia.
Shares in Prime were untraded at 10 cents at 15:33 AEST.