TBR 0.90% $4.49 tribune resources limited

You can't settle after the court case has been heard and I can...

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    You can't settle after the court case has been heard and I can confirm that it has been heard. I also don't believe that any arguments were heard in respect of damages or remedies should a breach of contract be determined to have occurred by the court. That might come later if RND/TBR win the day. It basically came down to where the mine gate ended, at the tenements or after the milling and pouring/refining?, ie is NST/the EKJV contractually obliged to treat RND/TBR's ore and turn it into gold under the collection of contracts that they are bound together by or is splitting the ore on the ROM pad the extent of NST's/ the EKJV's obligations under the agreements. Part of the NST's argument relied on the word "mineral" being construed to mean gold ore under the contracts, which clearly it is not under most accepted definitions of the word. If the judge lets that one go through to the keeper then a lot of companies are going to need to be much more careful about how they apply the word mineral in contracts in the future. If mineral doesn't carry its scientific meaning it makes it tough in this industry. Gold ore is not gold or a mineral. RND/TBR's argument also revolved around the inability for the EKJV to equally split ore on the ROM pad under any accepted or existing industry standard to reflect the equal and accurate 51%/49% distribution of each companies respective entitlements to their benefits under the joint venture agreement. I think it was generally accepted the there is no industry standard but an expert witness for NST was seeming to make the case that the practice conducted at the Kundana mine site met a high standard. Well a high standard is not the same as an industry standard which doesn't exist. Behind all these arguments there were also more esoteric legal arguments which set the context and scope for what real arguments were allowed to be made at trial. If RND/TBR win, then the remedy is still set to be determined but most likely, in my opinion, basic contract will then takeover and form the basis for any remedy. Probably something like restoring RND/TBR's position back to same as if the breach of contract had not have occurred if it is found to have occurred. Can this be achieved by monetary damages, I don't know, I'm not a lawyer but it will be achieved somehow if RND/TBR win. But they need to win first.Esh
 
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