Rise Gold loses California court bid to compel Idaho-Maryland Mine rights recognition

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  • Superior Court of California for Nevada County denied Rise Gold writ of mandamus seeking to compel Nevada County Board of Supervisors to recognize a vested right to operate Idaho-Maryland Mine without a permit.
  • Court found constitutional right to mine vested when county zoning code was established in 1954, but ruled mine operator abandoned that right by no later than 1963.
  • Company plans to appeal ruling; it said loss on appeal would eliminate value of its mineral estate.
  • Company said adverse outcome could set up a Fifth Amendment takings claim; it estimated mineral estate value at least USD 400 million.


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