BRL, page-4

Personally I am not worried about the court case . I believe that BRL position in paying royalties is correct and legal.
Even if somehow they do have to pay the 40 million up front it is not an extra payment , it will mean that as and when they mine the Buller/escarpment the royalties will be a lot less or nothing, reflecting the 40 million already paid.
The solid energy deal will be all finalised/completed/signed off in less than 20 weeks.
Meaning Brl will own 65 percent of Phoenix.
The court decision over the 40 mill with the inevitable appeals etc will last at least till year end.
So Brl will be generating cash and will be easily able to raise more funds at a higher share price or borrow from banks.
All in my research/opinion
I am holding two million shares and will be accumulating more over the next months.