Directions Hearing, page-4

I thought the main point gleaned from today was that we are urgently trying to get a date for trial asap " as it is in the defendents interest to delay as they are not wanting to sell" "it is in our interest to proceed quicly as delay causes dilution of asset"





Mr Robrts went first.. it is question of ownership, is the property jointly owned or singularly

Thought 2 dys would be enough time for trial but concedes may take longer

(mayfair impression ..mr robrts feels he is on more solid ground than he was with mdc case. He was less prone to prattling on , seems more decisive.Mr Hoffman on the other hand seems more subdued)

Proposes 15th feb last date for discovery of evidence

Heathgate holds seperate licences away from the mining but relating to te processing ? and Ags wants to sight them??

HG claim to have experience in market (presumably thst ags dont hav) and ags wants them to supply particulars of that experience. ( mayfair...seems they would have more experience than our lot , so why underline it)

Mr Hoffmann..for HG,...Argued thre was no spot market for U , that it was a heavily regulated commodity both in Australia snd OSeas " not like th metals exchange market"

Claude he mentioned what sounded like Methcorp Canada ...did u catch tht.?

(MAYFAIR note think he is going down the road that they cant put a value on the cost of the U sitting in a stockple)

Then went on to spesk about potential dmages claim ( encouraging he even brings it up at this stage)

"Loss of use of money" was the term used

"Ags argue that had we sold the U we would have $ x but because of market and long term contracts can't say

that

Something about "deed of assignment 2002 "

"Actual price of U shouldn't come into the trial"

AGS trying to facilitate an early trial but we need expert evidence re damages and uranium market and these people have to come from overseas. We get our directions from San Diego (! Direct from bb??)

Basically saying wont be as quick a AGS want

Mr Roberts

"There is a spot market

Its our property not theirs

Actual price of U wont come into trial (therefore no need for experts)

Trying to facilitate early trial

Pushing matter back will be in HG interst as thy dont want it sold and should be dealt with quick ly"

TENTATIVE trial date 7th April

impression......we stand a chance !