Stocks in play: Lydian International Limited

Commented on a decision by Armenia’s Administrative Court to reject an Application calling for the Minister of Environment to revoke the Environmental Impact Assessment of the Amulsar Project approved in April 2016. The reasoning of the Court is important in the context of ongoing unlawful activities against the Amulsar Project. A small number of private citizens alleged that ‘new ecological factors’ had come to light which justified setting aside the existing EIA. The evidence relied upon by the activists included: (a) the disputed Report on the Amulsar Project prepared by Earth Link & Advanced Resources Development for the Investigative Committee of Armenia (b) 13 points potentially justifying a new EIA sent by the Minister of Environment to the Prime Minister’s Chief of Staff on September 5; and (c) the ‘findings’ of alleged experts retained by or on behalf of a vocal critic of the Amulsar Project. Lydian International Limited shares T.LYD are trading down $0.005 at $0.07.

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