26
Oct 2017
American Company Avellana Gold Asks the General Prosecutor Office for Protection against Raiders
Investor company Avellana Gold addressed the Prosecutor General Yuriy Lutsenko and asked to investigate the confiscation of license for polymetal mining at Muzhievo deposit. Some days ago, law enforcement people conducted a search at the office of Carpathian Mining Company, which was previously bought out by the American company Avellana Gold Ltd.
On site, the Company employees were told that it was a search conducted by the Prosecutor General's Office as part of criminal proceedings against the previous owners of Carpathian Mining Company. The masked law enforcement people seized a notebook with unique confidential information on the deposit and a special permit for the exploration of Muzhievo polymetal deposit, which belong to American investor Avellana Gold.
At the same time, it is known that the Prosecutor General has signed an order earlier that prohibits law enforcement people from conducting searches without priorly requesting necessary information and confiscate company servers if they do not contain factual information in criminal proceedings. The appeal also says that Mr. Lutsenko forbade the use of balaclavas
"We have grounds to believe that the confiscation of documents belonging to Avellana Gold is a raider block of Company activities by "interested parties". Attesting to the same is the systematic planted information campaign in media containing untruthful information about the Company that discredits it and which was launched right after Avellana Gold bought the stock in 2016. "Competitors are trying to link the Company to the scandalous minister Zakharchenko and the former circle of Mr. Yanukovych," the appeal of the American investor Avellana Gold to Yuriy Lutsenko says.
As of today the Company has designed a polymetal mining project for the region in which it plans to invest 100$ mln. It has obtained all approvals for running the business.
In the official appeal to Yuriy Lutsenko the investor company Avellana Gold is asking to take necessary measures and conduct quick investigation of the events of October 20 as well as help recover documents and property seized from the Company. The Company has addressed the European Business Association separately.
Let me remind you that in 2016 Avellana Gold bought Carpathian Mining Company, Private JSC and Western Exploration company, LLC, which hold special permits for mining at Muzhievo deposit and exploration of Beregovo and Kvasovo deposits. In addition, pursuant to the Decree of Pecherskyi District Court of the city of Kyiv (No. 757/55085/16-к) the Company has proven its status of bona fide acquirer of rights to special permit for Muzhievo deposit. The court has also not found any links between the Company and the previous owners of Carpathian Mining Company.