Regis Resources Says Australian Federal Court Rules Section 10 Declaration 'Legally Invalid'

MT Newswires Live10-14

Regis Resources (ASX:RRL) said the Australian federal court determined that the Section 10 Declaration made by former Environment Minister Tanya Plibersek over a portion of the company's McPhillamys project in New South Wales is "legally invalid," according to a Wednesday filing with the Australian bourse.

The company expects that the current Environment Minister, Senator Murray Watt, will be required to redetermine the application for a Section 10 Declaration, the filing said.

The company is advancing its alternative development strategy, which involves co-disposal of filtered processed ore and waste rock in a single facility, avoiding the area affected by the declaration, per the filing.

Shares rose 1% in midday trade Wednesday.

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