CLE 0.00% 0.1¢ cyclone metals limited

Ann: Legal Action Commenced Against MCC , page-25

  1. 700 Posts.
    I don't really see how this is an issue, excluding the time delay that it'll take to get our cash. It's a very cut and dry case imo, MCC owe CFE the money as clearly spelt out in the contract that was signed. Either we get the 80 million they owe us willingly within the next week/month (highest probability imo), and everyone's happy, or we go the legal route, we get the 80 million plus interest, plus costs plus interest, and we're happy, or (lowest probability scenario)MCC packs up and heads back to China, in which case CFE can reclaim Cape Lambert. Not bad, because we've already been paid 320 million for it, and I'd expect that TS would just sell it again :D.

    I don't know why Tony Sage is being blamed for the delays, he clearly wants the money paid ASAP, and the Chinese have probably been giving him the impression that they will pay, but he's had enough, thus legally going after them. Imo there is no risk with the 80 million, just a matter of time until MCC realizes that they have to pay or give us back Cape Lambert, either outcome is a win for CFE holders.
 
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