It's done and dusted. Nothing has changed. What would you do if slapped with a $130mill claim? I know what I would do. They can't even explore the area, don't have the permits and I suspect never will. Please come back and argue your case when they actually do commence a drilling campaign on that land. Until then you are WRONG and I am RIGHT. I will happily say I was wrong if this ever happens.
Part of the announcement: In order to resolve their dispute, the parties have held lengthy discussions and negotiations with a view to creating an investment framework that would allow the Company to continue in these projects and settle all outstanding claims.
They rolled the dice on litigation and were trumped. Best thing they could have done for investors is walk away but instead they tried to sue, and now their partner is holding them to their agreement. Pretty poor outcome for a company that as of last quarter had just $395K in the bank. Massive CR dilution coming up. This company is a dud.
DDD Price at posting:
0.4¢ Sentiment: None Disclosure: Held
