WELLINGTON, New Zealand,
Dec. 13, 2017 /CNW/ - Chatham Rock
Phosphate Limited (TSXV: "NZP" and NZAX: "CRP" or the "Company")
advises that it has decided to accept liability for the disputed
costs with the Environmental Protection Authority (EPA) relating to
the Marine Consent application made in 2014.
Accordingly CRP has paid to the EPA the total claimed costs of
CAD 708,000, substantially offset by
funds placed in a trust account pending the resolution of the
dispute. In consequence, the net impact on CRP's operational cash
flows was only CAD 254,000.
CRP will be looking to formally conclude the court proceedings
shortly and looks forward to the complete resolution of this legacy
issue.
Neither the Exchange, its Regulation Service Provider (as
that term is defined under the policies of the Exchange), or New
Zealand Exchange Limited has in any way passed upon the merits of
the Transaction and associated transactions, and has neither
approved nor disapproved of the contents of this press
release.
SOURCE Chatham Rock Phosphate