Galway Gold (TSE:MTK) has released an update.
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Montauk Metals Inc. has lost an arbitration case against the Republic of Colombia over compensation for the Reina de Oro project, with the ruling denying Colombia’s claim for costs and ordering a reimbursement to Montauk of USD$504,000. The company is currently reviewing the decision’s impact with legal advisors and considering its options, amidst a stark admission of insolvency and inability to continue as a going concern, warning that any investment in its shares is highly speculative.
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