LONDON (AFX) - Moto Goldmines Ltd said it will continue working with L'Office des Mines d'or de Kilo-Moto (OKIMO) to implement the Nov 2006 agreement for the Moto Gold project despite claims by OKIMO chief executive Victor Kasongo of unsatisfactory performance.
Moto said it had received letters from Kasongo claiming that it had failed to satisfy performance criteria under some of the existing contracts for the project in the Democratic Republic of Congo.
The company said it strongly disputes these claims and that it has since received correspondence from the chairman of OKIMO stating that the letter from Kasongo was issued without appropriate authority and is therefore without effect.
In a statement, Moto added it had become aware of public declarations made by Kasongo stating that OKIMO was calling for its contracts with the company to be cancelled or revised.
The company said it will take all necessary steps to protect its legal rights. newsdesk@afxnews.com vlb/tc COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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