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Ann: Company Update - Court Application, page-39

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AllFuelledUp

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10/09/18

14:56

Post #: 35499041
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Originally posted by Ashes86 ↑

Hello fellow Creekers

I attended today, short answer is the injunction will be resolved one way or another on Tuesday next week.

I’d need several Visio diagrams to reverse engineer Vince’s floored logic, and LCK and SA Govs defence thereof. Suffice to say it sounds as though Vince is not acting at all on behalf of ATLA, see one of my points below.

A handful of summary points from me:

- LCK have suggested latest they can defer flaring initiation to without financial penalty from contractors is the 19th of this month:

- if injunction cannot be resolved at hearing next week, LCK will be seeking damages of $50k per day until resolved , assuming LCK win;

- ATLA would have to make clear they can afford to lose in relation to the above , I was unclear if that meant funds need to be entered into an escrow account or similar;

- Judge Dart seems quite pragmatic and wanted to work case though to a resolution as soon as possible;

- Vince’s lawyer (looked like Kim Beasley) tabled new evidence less than an hour before the 10am start time so hearing was delayed until 11:30;

- LCKs lawyer suggested Vince’s claims are directly contradicted by a report ATLAs 8 senior elders signed in 2017;

- above report was a part of the land access agreement which detailed the nature of LCKs planned operations, the same operations to which Vince now objects ;

- Vince’s lawyer entered A4 sized black and white photographs of artefacts as evidence today , although he needed more time to give the court the scale of said artefacts as no one could verify - Vince never spoke a word about said artefacts ....;

- LCKs lawyer made it clear there will be a requirement to cross examine Vince in future hearings : to which his lawyer made it apparent he was unavailable for cross examination .... if he hasn’t already been discredited he will be in due course;

- LCKs lawyer argued that the land access arrangement signed by ATLA has a sunset clause by which either party could raise concerns etc, that expired 6 months from October 2017;

- there was debate from Vince’s lawyers as to which geologic basin the PCD site is in - Telford or Arkaringa, apparently the SEO/EIR mentions both basin - seems flimsy to me - any expert wouldn’t care what the name of the basin is - More interested in proximity to PCD site (coordinates) and the bore log

- a couple dozen eco tards from Sydney were present along with Justin Haines and Michael Malavazos and a few journalists

Not sure what else I can say, aside from my take on it all is that LCK and the SA Gov should knock this over with ease , unfortunately it will take time and money and distract us from the main game - successful flare and resource upgrade

All the best

Expand

Thank you VERY much for this. This is what my take outs are

1. Able to fare as soon as 19th - happy days
2. They have nothing

LCK Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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Ann: Company Update - Court Application, page-39

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