Ann: Update on Zuleika Gold v Vango Mining Decision, page-15

The next stage of litigation will determine the quantum of damages payable by Vango on account of their determined breaches of the BTS. Zuleika intends to bring that aspect of its claim to trial as quickly as possible.”

is this end for VAN and the gravy train?

I’d imagine the Collins St Fund guys will be rubbing their hands together on anticipation. Potentially super cheap assets for only $7.5m loan!

Based on last quarters $1.7m outlays, $2.9m in the tin as of end of July, then Id say there isn’t much left for any damages payouts. And VAN also owe LSR for 2 sets of drilling which would be in the hundreds of thousands.

and there is still the Superior Gold court case outcomes to be dealing with and associated costs there.