This makes interesting reading. Firstly congratulations to Korab or Australian Copper for winning the case, but there are a few considerations here. A link to the decision is here http://www.dmp.wa.gov.au/Documents/Wardens-Court/2022WAMW14.pdfI feel Korab owes its shareholders an explanation
- The underlying tenement was dropped by Australian Copper. If I am reading this correctly the Andrew Hawker applications for special prospecting licences were on the same day Australian Copper dropped the underlying tenement.
- Why was Korab or Australian Copper using shareholder funds to defend this application when the shareholders will not benefit?
- Why were the shareholders not notified of this application and reasons for objecting?
- Is this mis-use of the limited company funds?
- Is this why we don't get any exploration updates as funds are being used for legal ventures by the board?
Also of interesting reading is the case back in 2014 between Australian Copper and Mining Resource Development. http://www.dmp.wa.gov.au/Documents/Wardens-Court/2015WAMW5.pdf
I'm intrigued to read paragraph 72 where apparently Australian Copper had an agreement with a Sergyi Antonenko allowing him to carry out activities on tenement E08/2115 which is the tenement dropped during the Andrew Hawker case. I've gone back through public announcements and can not find anything regarding an Ashburton Agreement dated 23 Nov 2012. What work was conducted? Interestingly I cannot find a decision of the warden regarding this case?
Going back trough Korab announcements I find this one https://www2.asx.com.au/markets/trade-our-cash-market/announcements.kor dated 21st September 2015 whereby Korab and MRDC joined forced and MRDC had 75% of the project.
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