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ELEVRA LITHIUM LIMITED — Interim / Quarterly Report 2014
Apr 28, 2014
64838_rns_2014-04-28_d6f65b66-6095-4852-ab74-f1cbcf2321af.pdf
Interim / Quarterly Report
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Suite 68 283 Given Terrace Paddington Qld 4064 Australia
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ABN 26 091 951 978
Telephone: +61 7 3369 7058 E-mail : [email protected] Postal Address: PO Box 1357 Milton Qld 4064 Web: www.sayonamining.com.au
Company Announcements Australian Securities Exchange
29 April 2014
QUARTERLY REPORT – MARCH 2014
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Sayona obtains default judgement against Mantle Diamonds (Mantle) in the High Court in England, in the amount of US$500,000 plus interest and costs
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Sayona withdraws from the Wills Creek project in the Mount Isa Inlier
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Actively seeking an advanced exploration/development project
CORPORATE
On 24 December 2013 Sayona issued legal proceedings in the High Court in London against Mantle Diamonds Limited for the recovery of an unpaid amount of USD $500,000 retained by Mantle as part of warranties and indemnities provisions of the Sale and Purchase agreement for their purchase of the Lerala Diamond mine from Sayona.
During the quarter the Company was advised that it had obtained default judgement against Mantle Diamonds Limited ( Mantle ) in the High Court in London, England, in the amount of US$500,000 plus interest and costs.
Sayona is seeking advice on the next step in the proceedings, having now obtained a judgement against Mantle.
The company continued its assessment of projects on a worldwide basis with a view to acquiring an advanced exploration/development project to add to its portfolio of assets.
EXPLORATION & PROJECT ACTIVITY
During the quarter the Company advised Superior Minerals that it was withdrawing from the Wills Creek Joint Venture.
Field work comprising geological mapping and geochemical sampling was completed on the Wills Creek project, in Northwest Queensland.
Zones of anomalous gold, rare earths and base metal geochemistry were delineated.
Sayona Mining Limited
Quarterly Activities Report March 2014
Following an assessment of the results it was decided that the project did not meet the corporate objectives of Sayona
For more information, please contact:
Dan O’Neill Paul Crawford [email protected] pcrawford@sayonamining .com.au 0407 596 942 0416 104 633
SAYONA MINING LIMITED TENEMENT SCHEDULE
As at 31 March 2014
| Tenement | Holder | Location | Nature | Interest -Start ofQuarter | Interest -End ofQuarter |
|---|---|---|---|---|---|
| NIL |
2