Ann: VMC: Venus Commences Proceedings against Spectrum Metals Ltd, page-62

First 62 Last

Share
Profile

Follow
sido

3,815 Posts.

1

10/10/19

17:01

Post #: 40820012
Share

Originally posted by m0ngy ↑

There are huge costs involved in this case in the Supreme Court. SCs or QC's will be engaged at $20K a day each + hanger one legals at another $10K a day. Forget 'fair and just' the law is neither. You go to court to get 'the law' and no matter what case Venus think they have a QC will argue very logically and plausibly that they don't. Cases like this don't just go to hearings before judges in a hurry. This will start with Directions Hearings, several of them and at each one the parties will be urged to negotiate. They will be assisted by court-appointed mediators. The costs and delays will grind the parties down. They may think they never want to give an inch but after 6 months they will be ready to do so. That is as it should be because the Supreme Court is a last resort after all mediation has failed. Contract law can be broken but it is HARD To break because it is so fundamental to our economy. If there is doubt then contracts are upheld and most contracts survive legal challenges. The onus of proof is on Venus, not us. Then there are costs that the loser pays, both parties will be aware that the loser may have to pay ALL the costs, potentially a million or more. Will Venus really pursue this to the point where the company is near bankrupt if they lose? No!!
There is a very very good chance that this will be settled.
Meanwhlle a longer TH is needed. Let's at least hear the defence before trading resumes. Thus far we have one side only.
My take, envious Venus are opportunistically trying to grab a high-grade gold resource from us that has a huge JORC.
Give them so 'go away' shares and let's keep drilling.

Expand

spx is no longer in a trading halt.

SPX Price at posting: 11.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

1 Great analysis

Reply

Top Stories

PAT

Patriot Lithium eyeing up Zambia-based Katawaro copper project

ARB

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

LM8

Lunnon expands gold program at KGNP in Western Australia, reports Lady Herial growth

ARV

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

LEX

Lefroy boosts near-surface gold resource by 13% to 439Koz

There are more pages in this discussion • 170 more messages in this thread...

First 62 Last

Add SPX (ASX) to my watchlist

(20min delay)
Last 1.2¢		Change 0.000(0.00%)		Mkt cap ! $55.24M

Open	High	Low	Value	Volume
1.2¢	1.2¢	1.2¢	$96	8K

Buyers (Bids)

No.	Vol.	Price($)
3	1548532	1.1¢

Sellers (Offers)

Price($)	Vol.	No.
1.2¢	12774991	17

View Market Depth

No.	Vol.	Price($)
3	1548532	0.011
11	4873570	0.010
12	4886394	0.009
8	6103248	0.008
5	5732562	0.007

Price($)	Vol.	No.
0.012	12774991	17
0.013	8321735	11
0.014	8667398	15
0.015	7363083	7
0.016	7000000	2

Last trade - 10.09am 10/10/2024 (20 minute delay)

SPX (ASX) Chart

Ann: VMC: Venus Commences Proceedings against Spectrum Metals Ltd, page-62

Patriot Lithium eyeing up Zambia-based Katawaro copper project

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Lunnon expands gold program at KGNP in Western Australia, reports Lady Herial growth

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

Lefroy boosts near-surface gold resource by 13% to 439Koz

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: VMC: Venus Commences Proceedings against Spectrum Metals Ltd, page-62

Top Stories

Patriot Lithium eyeing up Zambia-based Katawaro copper project

Court process clears way for ARB to buy up 4 Wheel Parts business in the US

Lunnon expands gold program at KGNP in Western Australia, reports Lady Herial growth

Smallcap Artemis Res' jumps 23% on six digit gold grade rockchip find at Titan

Lefroy boosts near-surface gold resource by 13% to 439Koz

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News