I have just been going back through the last few annual and half yearly reports to see if I had missed anything in my research prior to purchasing stock and noticed the below from the half yearly 13/3/23 pg 30
However there is no mention of it in the annual report released 29/9/23.
Does anybody know whether this is still ongoing? I have no idea what, if any, the $ risks might be13. Contingent liabilities
The Company is defending legal proceeding CIV 2016 of2020 in the Supreme Court of Western Australia (Proceeding) commenced by Roseland Capital Pty Ltd and Mr Murray Ward(collectively, the Ward Parties).The Ward Parties claim that the Company is liable to pay amounts under an alleged contract. They also seek damages from Neometals for alleged breaches of contract, breaches of the Australian Consumer Law, and tortious conspiracy. The Ward Parties’ claims relate to the Mt Marion Lithium Project Offtake and Equity investment by Ganfeng Lithium in 2015.
The Company denies any liability and that the WardParties are entitled to the relief claimed or any relief. It considers that the Ward Parties 'claims do not have merit. The Company will continue to defend the Ward Parties 'claims vigorously.
As at the date of this report, the Proceeding remains on foot and a date is yet to be set for trial. An estimate of the financial effect of this matter has not been provided by the Company because it is not practicable to do so.
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