ASX-listed Ora Banda Mining and Greenstone Resources set for court fight over Goldfields tenements

Two ASX-listed mining hopefuls are set to clash in the Supreme Court over tenements, as a potential lithium deal with Wesfarmers hangs in the balance. Ora Banda Mining and its offshoot Carnegie Gold nailed a $26 million farm-in agreement in October to bring two Wesfarmers subsidiaries onto its Goldfields acreage. The gold explorer touted the tenements as “highly prospective” for lithium. Wesfarmers will pick up 65 per cent of the rights to minerals other than gold. The Perth conglomerate will also chip in $15m for exploration to move the project towards a definitive feasibility study. But Ora Banda needs a sign off from fellow ASX junior Greenstone Resources and Ian Gandel’s Riverina Resources, who still hold an interest in nickel mineralisation at the tenements following their original 2007 deal to sell the assets. Ora Banda has been chasing the green light for nearly three months, but Greenstone and Riverina are yet to approve the deal. Now it has taken its chase to the Supreme Court, lodging a claim that Greenstone and Riverina have “unreasonably withheld their consent”, and asking that the two be ordered to approve the Wesfarmers transaction. Greenstone said it could not yet comment. The matter is set for a hearing Friday. Wesfarmers has made major moves into lithium in recent years, taking an interest in the Mount Holland mine and a Kwinana refinery project following its takeover of Kidman Resources in 2019. Discovering big new deposits would help feed the processing plant, when it opens.