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Claimant Press Release.pdf

italaw10533.pdf
Preview of Claimant Press Release
🔗 Source: italaw.com
📊 Size: 58 KB
📄 Pages: 5 pages
⬇️ Downloads: 93

Summary

In 1996, World Wide Minerals Ltd. tendered for and acquired the rights to manage and potentially purchase the uranium operations and assets of Tselliny Gorno-Khimicheskii Kombinat (TGK) in Kazakhstan. World Wide lent money to Kazakhstan to fund TGK's working capital and unpaid obligations, with the option to purchase a 90% equity interest in TGK by the end of 1998. However, Kazakhstan breached its agreements by refusing to issue export licenses, allowing World Wide to market its uranium internationally, and unilaterally terminating the management agreement. World Wide's total cash investment exceeded $80 million, which remains unpaid, and the TGK assets were resold without honoring the loan and security agreements.

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Description

In 1996, World Wide Minerals Ltd.

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  • File Format: PDF
  • File Size: 58 KB
  • Pages: 5
  • Language: EN
  • Total Downloads: 93
  • Last Updated: 1 week ago

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