Thank's for your reply , it's good to hear something from Management .

Just in case you did'nt get to read this link available on KNB website about last week judgement .

Although Kinbauri Gold Corp. (

TSX-V:KNB has failed to obtain court approval to have dismissed a former partner's claims against it, the junior mining firm is still "highly confident" of its success in the case after the presiding Ontario judge said he was "sympathetic" to Kinbauri's cause, court documents show.

A dispute between Kinbauri – which is based in Ottawa – and Montreal's Glen Eagle Resources Inc. (

TSX-V:GER) is moving on to arbitration after Ontario Justice Wilton-Siegel rejected Kinbauri's application to have Glen Eagle's claims summarily dismissed.

Glen Eagle is seeking $25 million in damages from Kinbauri for breach of contract after the latter

broke a definitive agreement to have Glen Eagle invest in Kinbauri in exchange for a half-share in its Spanish subsidiary. Kinbauri had cancelled the deal when Glen Eagle lost its funding due to legal action from one of Kinbauri's shareholders that accused the two companies of not considering stakeholder interests in agreeing upon the deal.

Kinbauri argued that Glen Eagle's financing arrangements were "a sham," or at least that Glen Eagle was unlikely to follow through with its investment before the deadline for the closing of the deal.

"On the basis of the current law pertaining to motions for summary judgment, I conclude that the motion must be dismissed because there are triable issues in respect of both submissions of Kinbauri," the judge said, according to court documents posted on Kinbauri's website.

However, the documents indicated that the case seemed to favour Kinbauri; Justice Wilton-Siegel referred to Glen Eagle's legal challenge as a "shakedown" for the firm's choice to seek damages rather than the continuation of its deal with Kinbauri, and said he was sympathetic to Kinbauri's need to quickly resolve the case, especially considering the fact that it's facing a hostile takeover bid from Orvana Minerals Corp. (

TSX:ORV)

He added that there is "some, perhaps considerable" basis for the possibility that Glen Eagle's funding arrangements could be a sham "given the absence of any evidence from Glen Eagle regarding the proposed source of the financing or the contemplated structure of the financing arrangements."

The judge also dimissed a motion by Kinbauri shareholder Jaguar Financial Corp. (

TSX:JFC) to declare Kinbauri's business and affairs as "oppressive" to its shareholders.

"Kinbauri is pleased with Justice Wilton-Siegel's assessment of the facts and issues in dispute with Glen Eagle as set out in his reasons and continues to be highly confident that it will prevail in defeating Glen Eagle's claims and in winning the counter claims for substantial damages that it will be asserting in the arbitration," read Kinbauri's statement following the decision.

For its part, Glen Eagle has announced it now has US$110 million in funding for one year, from an investment group that includes the involvement of the Saudi Royal Family, and that it intends to look at several gold mining project acquisitions.