Tantalum International Ltd and Emerge Gaming Ltd v Egypt - ICSID Case No. ARB/18/22 - Tantalum International Secures Financing Facility to Fund the Costs of Claims Against Egypt - 12 March 2018
The Directors of Tantalum International Limited (TIL or the Company), currently a subsidiary company of ASX listed Arrowhead Resources Limited (Arrowhead) (ASX: AR1) are pleased to report that the Company has finalised the Arbitration Funding Agreement with a Guernsey-based subsidiary of the Calunius Litigation Risk Funds (the Funder), under which the Funder has now committed to fund the costs of the Company's legal claims against the Arab Republic of Egypt (Egypt). The legal case and the committed funding arrangement: TIL and co-claimant, Arrowhead can now proceed to jointly prosecute claims against Egypt in proceedings which relate to the alleged expropriation (amongst other claims) of TIL's 50% interest in the large scale Abu Dabbab Tantalum-Tin-Feldspar project (the Project), located in southern Egypt. TIL's interest in the Project (amongst other assets) are held via its 50% equity in Egyptian registered Tantalum Egypt JSC, the holding entity of the Project tenements. ...