* Stay of decision regarding mining license LML48
* Govt extends prospecting license LPL209 for one year
Sept 14 Luiri Gold Ltd LGL.V said a Zambian
high court stayed the government's decision to cancel Luiri's
mining license, pending the hearing of the company's appeal.
In August, the company appealed against the cancellation of
its license, LML48, at the Luiri Hill gold project in Zambia.
On June 14, the company said it had received a letter from
the director of mines stating Luiri had defaulted on provisions
of the mining license.
The company's mining license contains the Matala and
Dunrobin gold deposits in the Luiri Hill gold project in
The company said the government granted a one-year
extension for LPL209, a prospecting license that surrounds
Luiri had applied for an extension on the license -- which
expired in July -- to carry out further feasibility studies.
Luiri's shares closed at 7.5 Canadian cents on Sept. 8 on
the Toronto Venture Exchange. The stock has lost 81 percent in
value since it touched a 52-week high in December, when the
company reported the first assay results from its drilling
program at the Luiri Hill gold project.
(Reporting by Isheeta Sanghi in Bangalore; Editing by Anne
Pallivathuckal) ((firstname.lastname@example.org; within
U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters