Interpretation of High Court Decision

This is from an ex-HC member who commented on the court case quite in-depth (and has now been proven correct in their outlook).

Always pay attention to both sides of the debate!

I had a good read of the court decision this morning.

I attended day 1 of 2 of the closing arguments, along side another investor.

We both left the court that day, which was BRL lawyers opportunity of closing the case, almost laughing at how pathetic BRL's defense was.

We both sold our shares immediately @ 16 cps.

It comes as no surprise that BRL have lost this case as I indicated on HC soon after the court day I went to.
BRL's stance on this smells of arrogance so no surprise they are going to appeal.

The judgement is very clear and among other things BRL own internal communications have tripped them up. BRL tried to oppose internal communication being used against them but were overruled.

Another damming piece of evidence was the ex-CEO of BRL at the time this deal was done, 2010, went into bat for the opposition in court.

I agree with many posters on HC, BRL should just pay the debt they have incurred.

That debt is ballooning every day as the ruling is $40m USD plus interest plus cost. This will be a further anchor on the share price going forward.

I would assume interest would be added on from the time they triggered the debt (late 2015 early 2016) so right now they probably owe $80m NZD....I have included $10m NZD for court cost $8m NZD in interest

Unfortunately, so much time has now passed BRL will not be able to use these assets as the current permit runs out in 2022. Also consider the current government and their stance on mining in conservation land. A positive outcome is extremely unlikely.

After having meet senior management, IMHO, they appear to be very arrogant which is what has got them into this mess in the first place and obviously they have not learn't anything as their decision to appeal shows.

The coming financials will show a very financially healthy company but when you buy a share you also buy management that comes with it.

Future prospects in NZ look bleak for BRL, due to the current government stance saying no new permits on Conservation land so good on the BRL team for looking elsewhere (Canada).

I wholeheartedly agree with this position and implore investors to start digging, and digging deep, on where they think this company is headed in the future.

Listening to permabullish pronouncements on a forum is not research. Do your own own homework and make unemotional, financially adept decisions!