I was in the court - most parties were quite confused and it would appear from "the judgement" that it is effectively incomplete. I believe all parties are to reappear in the Federal Court on 04/11. The judgement documents that Jacobson handed to the clerk of the court for distribution to barristers/lawyers were immense.
From what the brief version says it would appear that CHM are to submit a further statement of claim.
I am sure legal brains, and certainly those representing both companies,understand more clearly what all this actually means.
Look there is no doubt CHM wanted a portion (around 24%) equity in the company (and its partner). Point of confusion I think is that the Court is
The Court has come out and said they are entitled to a portion of the profits (as per CHM announcemetns)...... The Court may...ie may be referring to the difference between market capitalisation and equity raised invested into the project....ie fundraising, seed capital etc etc.
Remember reference by the Court today, that hundreds of millions have been invested into MMX.....what is the difference between capital raisings and the companies cap today...what about the Japan project partner.
I don't know the answer....not trying to confuse the matter, SELL or BUY tomorrow, make up your own mind.
I will ring CHM prior to market open and hopefully rteport here.
CHM Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
