When BRL bought the SE tenements of Whareatea and Sullivans with their SE acquisition this made the mining of Escarpment highly unlikely imo.
Why pay the US$80mil of royalties to mine Escarpment when mining these other tenements adjacent and reportedly with better quality coal would be far cheaper?????
Having the right to operate Escarpment I believe it would have been used as an overburden dump from these other tenements. This is why L + M had a go via the courts as if Escarpment were to be mined they would win either way, inflated royalty payments or performance triggered payments.
The question now is what are the grounds for appeal AND do L + M want to go the distance costs wise for further proceedings?
BRL Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
