Ann: Venus Commences Proceedings against Spectrum Metals Limited, page-103

"

problem here for SPX is
"The information provided to Mr Bosio and Mr Adams included information about Penny West and the Company’s (VMC) proposed acquisition of Penny West." So VMC has approached them with some type of inside info about the mine & the intention they were going to acquire it.​

"

RT, good point there. Some in spx forum are discussing what constitutes confidential, stating that what's in public domain is not confidential such as it is publicly known that PW is richly endowed. The problem is,
1- they signed a CA, which indicates not just what's in public domain, but also
2- confidential information about the vmc proposal/offer (wink wink)

I think It will be very difficult to argue a no-breach position. It's like they (DJC) want to make commission money out of the deal, but they saw what vmc was offering and cant believe it their eyes patina was even considering. if vmc was asking for help to raise money to advance the purchase, they could simply say sorry we cannot convince enough of our clients to raise that amount. vmc fails. Whilst thinking they can simply table a better offer and do the deal themselves which closed within 2 months. that's what they have to demonstrate, that there were no breaches (plural). Interestingly, the case includes claims of several breaches and misuse of information. It's like walking on thin ice a mile long. this is why like many others, this might end in settlement. what keeps me interested in this is the 'interesting' manner the spx mgt is handling this. every time I find someone quotes a counter claim, it seems to strengthen vmc's position. but I could be wrong