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clock Created with Sketch. 05/07/18
16:41
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Originally posted by theInquisitor
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In April 2012 the Supreme Court of Western Australia froze Bayan's stake in KRL (1,925,000,000 shares representing a 56.05% majority) which back then traded at $0.12 per share (so totaling to $231m) to secure WEC's potential damage claims against Bayan for which the court found WEC (or rather their Singaporean subsidiary, BCBC Singapore Pte Ltd) had a good arguable case. Hence the court determined that the extent of damage would likely equal or exceed $231m.
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The Pakar coal project has been injected into the Roo for 270 Mio $ scrip late 2012. Since that time Bayan spent more than 150 Mio $ in relating infrastructure for their Tabang and the adjacent Pakar project - 30 % of that infratructure capacity can be used by the Roo. Hence krl.ax carries substantial value that is being surpressed by the litigation between Bayan and White. Receiving krl shares with a JV agreement as compensation would be as smart as merging both entities into White Kangaroo Resources.
(20min delay)
