Court sets aside Helix joint-venture agreement for Gold Basin property
The Supreme Court of British Columbia declared the agreement unenforceable on October 9; CANEX said Helix has no interest or rights in Gold Basin.
Event / data period:
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CANEX Metals said on October 13 that the Supreme Court of British Columbia had set aside an earn-in and joint-venture agreement with Helix Resources concerning the Gold Basin Property in Arizona. On October 9, the court declared the agreement unenforceable and ordered Helix to pay the petition costs.
CANEX said the order leaves Helix with no rights or interest in the property. The company still has exploration-permit obligations to complete and a drilling contractor to arrange for Gold Basin; the ruling is not new drilling, a discovery or production.
Data
Court order on Gold Basin joint-venture agreement
October 9 order by the Supreme Court of British Columbia setting aside the Helix-Gold Basin agreement as unenforceable.
- · Occurred
Court set aside joint-venture agreement
The court set aside the contract and ordered Helix to pay the petition costs.
Methodology
The court set aside the joint-venture agreement; permitting and drilling arrangements were not complete at the release date.
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