Ann: Litigation update, page-61

Hi Pika,
Just had another look at the Annual Financial report to see what is said about litigation as particular risk factors.
It just came to my attention that the Porter case is one of 2 cases in which Porter is involved.
Porter succeeded with his case.
Absolute Analogue & Porter vs Sundance is the case which is expected to go on re-trail next year.

Doubt that any actions/moves by Cameroon, Congo or China is dependant or linked to outcomes of litigation. Outstanding litigious matters will, in any event, be addressed in one way or another in the contracts in the event of a T/O or whatever other operational action in event an equity partner decide to step in. Outstanding litigation matters (if insignificant in the scheme of things) would hardly ever place a hold on any "developments " going forward. If that was to be the case, the lawyers of this world will be running (and ruining) the world.. Point I'm trying to make is that whatever is in the pipeline on the project development front, the funding and equity partner issues, none of this will be affected, neither will it be influenced, neither will it be subject to, the outcome of the Porter case or the other cases which are yet to be retried and resolved.

From the AFR:

Absolute Analogue & David Porter v Sundance (2007)
 Absolute Analogue Pty Ltd and David Porter (‘Plaintiff’s’) issued a claim against the Company (WA Supreme Court Action No. CIV 1773 of 2007) in relation to an alleged agreement between the Company and the Plaintiff’s for the issue of 30 million options (20 million options with an exercise price of $0.10 and 10 million options with an exercise price of $0.20). The Plaintiff’s are seeking damages in lieu of specific performance assessed at $9 million plus interest at 6% p.a. since 2007 and costs. This matter proceeded to trial in November 2013 and on 6 August 2014 the Supreme Court of Western Australia delivered its judgment in favour of Sundance dismissing the plaintiffs’ claim and ordered the plaintiffs to pay Sundance’s costs.
 The Plaintiff’s lodged an appeal which was heard in June 2015. The Plaintiffs were not successful in having the Supreme Court Judge’s decision reversed but a retrial has been ordered by the Court of Appeal (WA) in their decision handed down on 28 August 2015. Any retrial, if it occurs, would not be expected to proceed until well into 2016.
David Porter v Sundance (2013)
 On 29 April 2013 Mr Porter issued a claim against the Company (WA Supreme Court Action No. CIV 1632 of 2013) in which he is seeking damages in lieu of specific performance in relation to Sundance options estimated to be between $4 - 5 million plus interest at 6% p.a. since 2007 and costs. Mr Porter claims to be entitled to 10 million Sundance options at $0.10 per option pursuant to an alleged agreement relating to Sundance obtaining certain iron ore licences in the Republic of Congo. The trial was completed in early September 2015 and a decision is expected in either late 2015 or early 2016.

Cheers