Zuleika attempting to negotiate settlement with Catalyst

Here's the latest from Zuleika, WRT the damage award phase of their case against Vango/Catalyst.

Justice Smith found SAG's case strong enough that she agreed to allow ZAG to claim court costs above the normal limits. Next is a decision on the damage award. ZAG has claimed $23 million in damages.


"Zuleika Gold’s litigation against Vango Mining Limited re the K2 Gold Project
Zuleika Gold is seeking substantial damages, interest, costs and an order requiring the transfer of Zuleika
Gold’s beneficial interest earned pursuant to the K2 Project Farm-in-Joint Venture Binding Term Sheet
against Vango Mining Limited (ASX:VAN) (Vango) and its wholly owned subsidiary Dampier (Plutonic)
Pty Ltd (DPPL) (ASX: Ann. 16/5/2017). In the 2022 court decision, Zuleika Gold was confirmed as having
a 4.1% beneficial interest in the mining lease, and any contiguous tenements which cover adjacent, onstrike or down-dip extensions of the K2 orebody or mineralised zones,
During the Quarter, Vango was taken over and is now a wholly owned subsidiary of gold miner Catalyst
Metals Ltd (Catalyst). Catalyst is attempting to consolidate the area with a current offer to take over
Canadian listed Superior Gold Inc and hence acquire the Plutonic Mining operation.
Following the verdict from the stage 1 legal proceedings announced last year, that overwhelming found
in Zuleika Gold’s favour, the next stage of litigation has commenced to determine the quantum of costs
and subsequently the damages payable by Vango and DPPL to Zuleika Gold.
Zuleika Gold has commenced discussions with Catalyst in an attempt to resolve the litigation. Zuleika
Gold hopes for a positive outcome from the discussions, but if not forthcoming will continue its legal
action as vigorously and as quickly as possible."
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