Ann: DAU: Dampier seeks compensation from Vango, page-27

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GT55

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18/02/20

12:52

Post #: 42995120
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Originally posted by Bungendore: ↑

Hi Samcos, the situation is Billabong Gold "(neighbours" or as I said the Mob down the road) is in a legal dispute with VAN, an announcement made in mid 2017 by Malcolm Carson of DAU sprouting to the market that DAU have a right to 50% of everything VAN has at Marymia, Carson/ DAU have engaged in totally false and misleading information to the market as the only right they ever had was with the K2 mine.....period.....Carson and DAU should have shut up and taken the deal to conclusion and everyone would be happy, so Billabong with their buddies DAU believe they are entitled to half the Marymia site which is totally wrong, this will play out in court later this year or next but Billabong at the current cash burn rate of $3 to $4 Million a quarter will be bankrupt by then, so in reality its a side show that will play out. VAN is moving on as planned. In this industry the litigation is endless and sometimes distracting, but lets deal with the facts, McInnes has taken a $1m market cap to $100m with the next zero coming along sometime in the future, its an incredible feat.

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Bgd, I can’t find any such announcement, everything mentions K2 only. Not withstanding of the self serving from directors over there it seems their was a change of heart over here in regards to advancing K2 to production. Either the cost was greater than anticipated or a technical difficulties in terminology with advancing the term sheet to an actual agreement.
An unfortunate bloody mess anyway.

VAN Price at posting: 13.0¢ Sentiment: None Disclosure: Not Held
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