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Message: Mongolian court case postponed to Aug 2

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Mongolian court case postponed to Aug 2

posted on Jul 22, 10 12:23PM (Log in to use the IP Check tool) ^[?]

UPDATE 1-Khan Resources says Mongolian court case postponed

10:42am EDT

* Says NEA wants to change legal representative

* New date of hearing set for Aug. 2

July 22 (Reuters) - Canada's Khan Resources Inc (KRI.TO: Quote, Profile, Research,Stock Buzz) said on Thursday a Mongolian administrative court has postponed the hearing of a case regarding the cancellation of its licenses, after the Nuclear Energy Agency (NEA) sought to change its legal representative.

The new hearing date of the case, brought by its unit Khan Mongolia, has been set for Aug. 2 by the Mongolian Capital City Administrative Court, the company said.

Khan, which owns license to explore uranium at Dornod, said this is the second time the NEA has asked for a postponement of the hearings.

"We are disappointed in the NEA's request to again postpone the court case," Chief Executive Grant Edey said in a statement.

Edey recently told Reuters the company was bracing for a long legal battle with Mongolian authorities to win final approval to develop one of the mineral-rich country's biggest uranium deposits. [ID:nSGE66J0J7] Khan shares were up 1 percent at 35.5 Canadian cents Thursday morning on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Don Sebastian)

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