Hi Yak, I believe SPX will be using the ann. due on Tues morning...

Hi Yak, I believe SPX will be using the ann. due on Tues morning to inform the market regarding their side of this mediated settlement with VMC:

With Paul Adams (SPX managing Director), Davide Bosio & DJ Carmichael still in the gun (case is listed for 3rd to 12th March and then 12th April 2020), my thinking is that SPX will be taking their time to make a very well worded statement for the markets consumption; which would definitely preclude them from any further legal jeopardy.

This story still has some time to run, see second paragraph below from VMCs' ann. 7/2/20:

I am very happy to see that SPX can now move on with the business of growing and developing our highly prospective project without the burden of the legal and financial uncertainties that has hung over the company these last few months.

So it may be a matter of "F___Off" money, but the fact is; it is going to cost us/SPX $850,000, SPX are paying the money here, VMC have called the settlement a "confidential agreement". So I don't think I will be holding my breath waiting to hear what the real facts behind this little saga are about. Although there is no doubt, I would have loved to have been a fly on the wall at that mediation.

However I eagerly await the SPX spin/version on this story come Tuesday, it will be very interesting to hear what they have to say, but I'm not sure we will know a lot more than we know now. Mind you, I wouldn't be too disappointed to be wrong on that one.

But yes, regardless of the cost, it is a very good thing to put this thing behind us, and my sense of it that SPX will now pick up the newsflow again with the clear air that this settlement affords the company. So hopefully there will be some good positive releases soon where SPX can get a proper bang for buck, and a good shot at breaking through 20c.

SPX had $5.696m at 31st Dec, their projected spend for this March Qtr is $2.38m - but we now add $0.85m to that and we get $3.23m; that would leave around $2.46m at the end of this Qtr, so I'm not expecting a CR until the June Qtr - hopefully the S/P is in the 20's somewhere before they do it.

Really pleased it is done with.

GLTAH
mc