November 7, 2011

Canadian small/micro-cap weekend roundup

Canadian small/micro-cap weekend roundup: "On Monday, Khan Resources (TSX: T.KRI, Stock Forum) rose 8.3% to 26 cents after the company said it has obtained an order from the Ontario Superior Court of Justice validating service on Atomredmetzoloto JSC (ARMZ) in respect of Khan’s $300 million lawsuit for damages against ARMZ. Back in February, the company announced that the Russian Ministry of Justice refused to serve ARMZ with details of a law suit related to a uranium mine in Mongolia. The company said the Ministry of Justice cited Article 13 of the Hague Convention that provides that “the State addressed may refuse to comply only if it deems that compliance would infringe its sovereignty or security.” Khan Resources is accusing ARMZ of alleged interference after ARMZ and the Mongolian government signed a joint venture deal to develop the Dornod mine. Khan has also taken legal action against the Mongolian government after its mining license was suspended in 2009. ARMZ is the mining arm of the Russian government."

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