Haven't posted for some time so thought that I should add to the argument. I missed Hr's comment that was sent into the ether.
My focus is on the statement "ACE is seeking damages and restitution ..." let me reiterate "damages and restitution" that means BB to pay some hard cash in AUS dollars plus give back the 75% to AGS.
Now I am not a miner and don't know the full resource and reserves. But from pyschological perspective the screws are being tightened.
The real issue is not whether AGS can prove their case? Now that they have the scoping study the real issue is that Quasar need to show, using their data and figures that the estimates in the scoping study are wrong. And in actual fact they observed their fiduciary obligation. How will they do that? Do they bring in their own independent analyst? Yes they can but their entire conjecture has been on the basis of historical data from their plant. That is the real issue. AGS have provided an independent opinion now Quasar must counter that from their current operations. That alone should be interesting. Of course good legal people will counter and explain the differences but the stakes are getting bigger where AGS are after the lot. Now Gandel is a smart cookie and the stakes are extremely high and don't be shocked at any spike if we hear the word "breach" in any form whatsoever. As I have said previously the standard is not high at all.
AGS Price at posting:
42.5¢ Sentiment: None Disclosure: Held
