Lidian Armenia Plans to Resume Operations at Amulsar

Lidian Armenia announces that reports circulating regarding the company’s activities and the future of the Amulsar project are not true. Today, legal activist Nazeli Vardanyan stated during the latest session of the investigative committee examining the legality, foundation, and credibility of financial and other reports submitted by the executive authorities within the framework of investment programs in the metallic mining industry, that "... soon the Amulsar mine will likely be zeroed out on their (the company’s) balance sheet." In this regard, we state that the Amulsar project remains 100% owned by Lidian Armenia, the company continues to hold all rights to the operation of the mine and plans to resume work at Amulsar, completing the construction of the mine.

As an addition, we remind that just one day ago, the court of first instance of the Republic of Armenia qualified the previous statements made by Nazeli Vardanyan regarding Lidian Armenia as defamatory and obliged her to retract them. The company’s legal team will consider the feasibility of submitting another lawsuit against Nazeli Vardanyan, as she continues to disseminate misinformation and make illogical statements that mislead the public,” the statement reads.