Notitia. Yes, it certainly is much better "news" than we have had for oh so long. At least we know what is happening.
I remain cautious as I have always hated to have to rely on court decisions in such matters. Neither do we know what the recalcitrant person is like. He might very well be a nasty vindictive person who couldn't give a stuff about LNY and its shareholders and is prepared, and has the capacity, to fight this as far as he wants. That cannot be completely dismissed.
From what we have heard for many months now, the counter party initially asked for a totally unreasonable amount i.e. the person is not being reasonable. Greed or vindictiveness??
Again, just what we have heard, the spoke in the wheel appears to be just one of a few beneficiaries in the estate of the actual owner (probably the one with whom the first agreement that you refer to was reached??!!). Now, that makes the new "owner", if that information is correct, the executor of the late owner's estate.
We don't know, but, this could also be a blessing for the executor, who, clearly, was not able to negotiate a settlement. Is the executor the recalcitrant one, or, is it one of the other beneficiaries who is also giving the executor a hard time??
If the executor is not the one holding out, the executor is able to satisfy his/her obligations by accepting what is deemed to be a fair and reasonable decision from the Land Court and the matter between LNY and the "owner" would be resolved and the ML be granted.
Then, the recalcitrant beneficiary would need to fight the executor, which would be a separate matter altogether, quite irrelevant to LNY.
Yes, we are much further advanced so far as information is concerned, but, IMO, without the nitty gritty details, we still have to just sit and wait and hope. As the company has always stated and IMO on which the market will continue to wait, the granting of the ML is an integral part of proceeding with Agate Creek and the market will not reflect the value of that ML UNTIL it IS granted.
But, today is one very big step forward in that direction from where we were yesterday.
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