Australia's largest stock trading and investment forum Australia's #1 stock forum

ANS

0.00%

1.7¢ austsino resources group limited

Sunday pre-action discovery application and appeal discontinuance, page-34

First 34 Last

Share
Profile

Follow
really

1,568 Posts.

142

24/06/22

10:57

Post #: 62181742
Share

Originally posted by DVEous: ↑

Let's break this down for you
The only words you need to take note of is from paragraph 2, and in red below - ignore the rest.

"Since the appeal was instituted on 6 May 20221, the Company continued to engage with its
external legal advisers regarding the appeal, the appeal’s forensic and legal benefit to the
Company and the Company’s shareholders, and the weighing up of the benefits and the
costs of the appeal against all relevant legal and commercial factors. Further, in this period,
the Company and its external legal advisers have undertaken considered legal analysis of
the Supreme Court of Western Australia’s decision published 31 March 2022"

In other words, it wasn't worth the effort of pursuing.
If there was something suspicious involved, then yes, it would have been worthwhile to continue with the appeal proceedings.

This was a simple cost benefit analysis.
Go with the cheapest option.
IF there was some risk of compensation, then it would be less than the cost of continuing the appeal process.

There is nothing to see here, folks.

This was not a wasted 3 months, as you suggest.
If the appeal did go ahead then that might have turned off potential investors.
Who wants to get invited into an ongoing sh1t fight? Nobody.

With legal analysis revealing there was nothing to hide (and therefore no wrong doing), our reputation has not been tarnished, and the process of attracting partners and investors remains unaffected. This is especially true for future domestic projects - remember FMG and Sinosteel are half way through a rapid evaluation of unlocking WA's Midwest region with rail and Oakajee port development... which in turn unlocks our Peak Hill deposit. Maintaining a clean reputation is essential.

Expand

I not sure your reply is on the mark DVEous

The appeal was against the court order to supply documents "Pre-discovery"
ANS has now decided not to stand in the way of "Pre-Discovery" as it would simply cost to much

so its back to April when the court ordered "ANS" to supply documents (So really a waste of 3 months for no outcome)
and now ANS will supply documents as ordered

None of the below has been established at all yet (Make no mistake I'm on ANS side here)

"With legal analysis revealing there was nothing to hide (and therefore no wrong doing), our reputation has not been tarnished, and the process of attracting partners and investors remains unaffected. This is especially true for future domestic projects - remember FMG and Sinosteel are half way through a rapid evaluation of unlocking WA's Midwest region with rail and Oakajee port development... which in turn unlocks our Peak Hill deposit. Maintaining a clean reputation is essential."

Really -DYOR

Last edited by really: 24/06/22

ANS Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

LRD

Lord picks up high-grade copper play in Western Australia, with past intercepts of up to 6.62%

SI6

Nanocap Si6 Metals to kick off drilling at Monument gold project WA, chasing past hits

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

Bitcoin jumps 8% to beat record on Trump vote optimism

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint