This ruling looks like it may put Magna right back in the game with the uranium leases in Namibia or, some serious money will need to change hands to settle the dispute.
The way I read it, Ancash may need a lot of their namesake to sort this lot out as the High Court has ruled not only against the Minister, but also Ancash; this is not just restricted to the court costs but in all probability, Magna through their subsidiary, could finish up with the leases again or, a truck load of cash to go away.
It also now appears as though the Minister did not have the right to award the leases to Ancash in the first place. Didn’t Ancash on-sell the leases, which might put a fair bit of egg on someone’s face?
Funny how things have turned around with this one and may yet see me getting back on the positive side of the ledger after all these years; might even top up to get my averages down.
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