Copper, gold and nickel explorer Thundelarra has launched legal action against a tenement holder in the Mid West who it claims has refused to comply with the terms of an earn-in arrangement.
Thundelarra claims that, as a result of the company defining a maiden resource at its Red Bore prospect near Meekatharra, it has satisfied the requirements to earn a 60 per cent equity interest in the tenement under the agreement with the holder, Bill Richmond.
The company claims that Mr Richmond did not acknowledge an earn-in notice put to him and had refused to transfer the equity interest to the company.
Thundelarra said it had attempted to resolve the impasse but had been left with no option other than to pursue the matter through the courts.
The company took to the WA Supreme Court this morning to begin a three-day hearing against Mr Richmond.
"Thundelarra believes it has a strong case and remains confident of a favourable outcome," the company said in a statement.
Shares in Thundelarra were up by more than 6 per cent to 3.5 cents at the close today.
