Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-10

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01/02/25

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Post #: 77660436
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Originally posted by signalFollower: ↑

there was $3m awarded to AAU in arbitration, the counter claims for Taxes (which seemed to be quite questionable / convenient) for them to be included in any Liquidation had to already be submitted and I'm not sure that it ever got to that as the DR was essentially using it as a stalling tactic. Under Vanuatu Liquidation law any outstanding amount not already presented asa claim prior to Liquidation needs to follow a very specific process to get vetted at the discretion of the Liquidator - well that was my understanding anyway from reading throught he Vanuatu documentation.

With respects to taking an objection to court (over additional taxes), I also felt that this is entirely the responsibilty of the party making / wanting to get an unpresented claim considered as a vallid one after the Liquidation commenced, which if you reccall was right on COB 31st of December, local Vanuatu time.

Back on the $3m arbitration award, I don't see it a costly thing for the Liquidator to get that court endorsed, and provide whatever powers that gives them to enforce under Vanuatu law. Collection and Enforcment is another, separate aspect to it all, I am mostly talking about the process to deem in and rule out monies owed to and owed by the Antilles subsiduary.

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Sigs, a question. Was the rewrite on the NS dfs not a simple rehash of the ore but this time paying the tax instead of going with dore?. If so then why the activity notice saying its metal prices only.
if its only that it would take all of 5mins. The point being NS is really ready to pursue, why is it not.

AAU Price at posting: 0.4¢ Sentiment: None Disclosure: Held
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