court case dates and share price, page-13

First 13 Last

Share
Profile

Follow
Eagle Bob

279 Posts.

19

16/12/21

12:45

Post #: 58336602
Share

Originally posted by kori: ↑

Undaunted and Eagle Bob the champagne corks were definitely popping in Leeton. Very dangerous just to read one paragraph (C. 258). Billabong's main prize (if they had won) was the enforcement of the 2016 NTS ROFR rights which would have given Billabong 40% of ALL of Vango's tenements. I repeat if they had won. The judge kicked this claim to Stewart Island. In fact the judge awarded indemnity costs to Vango to be paid by Billabong because Vango had offered (as a settlement) over 15 months ago the same BTS that DAU was offered. The judge had stated that Billabong was successful in that the BTS should have had been offered to Billabong in the 2017 transaction. However given the fact that Vango had already offered the BTS to Billabong in early 2020 the judge stated that Billabong should have accepted the offer. So the judge is just reinforcing what VAN had already given to Billabong. So if Billabong wishes to accept the orders of a BTS (they need to pay $3m to Vango for the right to earn a farm-in of K2 only) they need to do so within 10 days of yesterdays date. My money is that given the Billabongs huge legal costs to date and the bad reaction that faces their shareholders an appeal by Billabong may be on the cards!

PS without going into too much legal detail this judgement IMO also gives an enormous confidence booster to the next case (re ZAG) as the BTS (and its challenges) were highlighted in the ruling. Bring it on!

Expand

Where is the info re costs in the Court ruling please Kori?

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

1 Great analysis

Reply

Top Stories

ASX Market Open: Green Friday as markets digest Trump; China | 8 Nov 2024

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

NMR

NMR picks up advanced gold projects in far north Queensland

AKN

AuKing Mining flags gold in rock chips on-site Saudi Shaib Marqan project

Trump Victory Sends Bitcoin Surging Above $75K – Is $100K Next?

UBI

Universal Biosensors flat despite fresh deal with US medical product distributor

Trump is President Again: What Does This Mean for Crypto?

MMI

Metro Mining inks bauxite offtake contracts into 2026 with Chinese m

EQN

Equinox unveils some of "world's highest" antimony grades at Alturas, Canada

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint