It's my understanding both current court cases are in the arbitration stage rather than a court decision stage.
Just in case you are not sure what this means, it's where both parties put forward their case, get a chance to agree on a settlement or decide they will or will not take it any further.
IMO the case on the change of control is vexatious in nature and does not have a leg to stand on.
The other court case is for default under the guarantee scheme which I understand to be about the performance payments (again) and one can't but help think the supreme court decision in favor of BRL, confirming the royalty payments take president, will stand well against this new litigation attempt.
Given the supreme court decision awarded BRL costs as well you have to wonder what l&M have already shelled out for both lawyers, I would suggest it's cost them $8m to $10m ish.
Looking forward to the results, a divi and clarity on current hedging position
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