Active Energy Group (LON:AEG) said it is confident of the “legal validity” of its forestry joint venture with a native group from Canada.
Its comments echo those contained in its annual report issued a week ago.
And they were made as Alberta’s Ministry of Aboriginal Affairs said it will give its ruling on possible breaches of the Métis Settlements Act by AEG’s partners in the next four weeks.
Active Energy owns 45% of the KAQUO Forestry & Natural Resources Development Corporation, with the remainder held by a group representing the Métis, who are descended from the aboriginal people of Alberta and early fur traders.
The company has always maintained its partners acted properly. If this stance is vindicated by the report, then the partners can move swiftly to assessing bids for companies looking to invest in the vast tracts of forestry land covered by the JV.
Active Energy chief Richard Spinks said: "We are extremely grateful to the government of Alberta for finally confirming when the enquiry will be completed.
"The Métis people have a long and honourable history, and I have every confidence that the KAQUO joint venture will allow the selected investor to imminently invest, which will enable the creation of hundreds of local jobs and empower the Métis Settlements of Northern Alberta to achieve financial independence and become proud contributors to Alberta's economy… a goal that we share with Premier Notley and her new government."