Today Bonython Metals Group Pty Ltd (BMG) has filed a notice of...

Today Bonython Metals Group Pty Ltd (BMG) has filed a notice of appeal to the Federal Court of Australia in response to the Orders made on 27th February 2012 resulting in a continued stay of the Orders.
BMG intends to file a full appeal on or before the due date.
BMG and its major shareholders note CAP has made several public announcements on ASX about BMG and proceedings in the Federal Court.
These announcements contained partial extracts from confidential agreements between CAP and BMG.
Under the current CAP-BMG JV Agreement, BMG holds 40% interest in the Hawsons Iron Project JV.
According to CAP’s announcement on 29 February 2012, for BMG to continue in the JV and move to a 51% interest, BMG must before 15 May 2012 contribute $25M cash to CAP and commit to a bankable feasibility study.
However, CAP did not inform the market that BMG has until 15 May 2014 to make a $20M payment towards the bankable feasibility study.
It is BMG and its major shareholders’ contention that it is completely premature for any party to speculate at this time over what the other party may or may not do on 15 May 2012.
This press release is made by the major shareholders of BMG.