Nice pick up.. Heres the rationalle of the defendants.. n...

Nice pick up..
Heres the rationalle of the defendants..


n January 2020, WEC announced that BCBCS had amended its claim against the Company. The Company is challenging the claims.
Between 21 September 2020 to 30 September 2020, the SICC heard the testimonies from actual and expert witnesses from both sides in the hearing of the Third Tranche issues of causation and damages. BCBCS had advanced their calculation of approximately US$91 million as wasted expenditure and approximately US$54 million in loss of chance to construct a further two coal upgrading plants. The Company has presented factual and expert evidence to refute those claims and to fortify its position that the wasted expenditure would not have been recoverable by BCBCS and that the Company would not have agreed to the construction of further coal upgrading plants. The decision of the SICC is not expected until early second quarter of this year.
Although there can be no assurance, the Company’s management continues to believe that no material liability is likely to arise, notwithstanding the judgement of the SICC.