Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) told investors that a final report, in relation to its dispute with Nigeria’s Osun State Government, has confirmed that it has complied with its legal and regulatory obligations.
The report, by an ‘Inter-Ministerial Fact-Finding Committee’, also confirmed that allegations of wrongdoing were unfounded, Thor added.
Additionally, the committee ruled that a ₦3.25 billion ($2.09 million) tax invoice was not valid, and, a new revised invoice of ₦98.35 million ($64,100) has been issued and is now subject to reconciliation.
It also confirmed there was no evidence of environmental pollution and no basis for additional environmental levies, Thor noted.