Ann: WA Court Decision on Billabong Gold Matter Received, page-13

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GT55

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17/12/21

20:59

Post #: 58377853
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Originally posted by kori: ↑

Oh my PulpCutter , you 'won' the 'battle' being the BTS (which VAN had already offered to SGI nearly 2 years ago) BUT lost the 'war'!

SGI didn't want the BTS when offered as they wanted more, much more but you lost!. This was 98% of the claim which was the 2016 ROFR right for 40% of all of VAN's tenements. You had at least 4 QC legal dudes (compared to VAN's 1) - they are not cheap! Also K2 has a JORC of 110,00oz but is the most costly pit to mine due to dewatering and the collapse of the pre existing mine shaft which will need a total refurb for safety reasons. Trident is VAN's crown jewel over 800,000oz (which was what SGI really wanted) Plus recent 2020 and 2021 drilling programs confirm high grade open cut. I know where I would like VAN to start mining! Regardless if VAN offers 6 or 20 BTS's for K2 to all new comers they are welcome to it. They will need to contribute $$$ to CAPEX for the right to earn in! - great for VAN! Plus as Undaunted stated if SGI had 'won' surely they would have announced it on the TSX to pump their market cap!

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kori, can you explain given they had the NST mill available to it, why didn’t VAN just start mining the K2 mine and make everyone some money a few years ago including Vango? There does not seem to be any potential force majeure claim by Van with mining issues to use as a reason not too unless I missed it but I never saw it mentioned.
I’m no fan of those two @ ZAG but IMO given their agreement this is not going to go down well for Van once it hits court.

VAN Price at posting: 5.9¢ Sentiment: None Disclosure: Not Held
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