I could see the merit is suing. I know a bit about this sort of stuff.
However, the Northern Star horse had bolted with the booty with Tanami's consent and there was no way of getting it back.
Damages was the only real remedy. $3m may not see much in the context of things, but it's not insignificant either.
Both parties pay their own legal costs, so that's more cost for Tanami to bear. I wonder how much MLX will net after legal costs.
Litigation is a very time-consuming and expensive exercise and settlement should have been on both parties' minds after pleadings had concluded because of that.
This is a good result for MLX imo. It gets some money into the bank, it frees up staff and management and on top of that it vindicates taking action. Naughty Tanami!
MLX Price at posting:
$1.47 Sentiment: Buy Disclosure: Not Held
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