Australia's Latitude 66 tumbles after Finnish court rejects mining rights extension

Latitude 66

18/11/2024 03:26

Nov 18 (Reuters) -     ** Shares of Aussie-Finnish
miner Latitude 66  LAT.AX  fall as much as 38.9% to A$0.055,
their lowest levels since March 11
    ** A Finnish court rejects Latitude's appeal for extension
of mining rights over the Juomasuo and Pohjasvaara mining zones
    ** The mining zones form a part of co's KSB Project in
Finland
    ** The country's mining regulator Tukes approved the
extension in 2022, but was reversed by the Administrative Court
of Northern Finland
    ** Says co evaluating options including its right to appeal
the decision to the Supreme Administrative Court and applying
for exploration permits over the impacted mining zones
        ** Stock has risen 4,400% this year, as of last close

 (Reporting by Nichiket  Sunil)
 ((Nichiket.Sunil@thomsonreuters.com;))