Facts: Lithium Royalty Corporation (LRC) initiated a legal action to establish whether a contract was formed with Orion Resource Partners (and related entities) for purchasing an overriding gross royalty interest in a Nevada lithium mining project's revenues.
Issues:
Whether LRC should be granted leave to add proposed Orion respondents as parties to the litigation.
If the proposed Orion respondents voluntarily attorned to the court's jurisdiction.
Whether an enforceable contract for the purchase of an 85% interest in the royalty was formed between LRC and Orion.
Ruling:
LRC was granted leave to add proposed Orion respondents as parties.
The court found the proposed Orion respondents had voluntarily attorned to its jurisdiction through the actions of their umbrella organization, ORP.
A valid and enforceable contract was concluded for the purchase of an 85% interest in the royalty, not subject to or violating Nevada’s Statute of Frauds.
Amount Awarded: Not applicable; the case focused on contract formation and jurisdiction issues.
