Welcome to HC William S Bonney AKA.... Taken a long time to get...

Welcome to HC William S Bonney AKA....

Taken a long time to get this far - so October.

There are quite a few posts buried in past threads on this site which may add to the memories below. The short section on Legals at the end of this old post of mine is probably still how management feel.

Some comments from memory...

There are/were a series of legal issues related to the very early days of Regal and other entities - 20o4-2010 when they were involved with gold prospect(s) east of Leonora. Details of agreements from that time are apparently the cause for legal proceedings.

Apparently hand shake agreements, and not a huge amount in writing if the following is any indication.

There was a 2014 Warden's court hearing that gives a lot of the background history but I don't know how it relates to the current situation.
My interpretation of that decision was the plaintiffs (?) were not able to provide enough convincing evidence for the Warden to find in their favour.



Where does it leave the company if the court favours the Plaintiff ?

As one could expect it would probably involve a cash settlement, paying the applicable part of the plaintiffs costs, and/or...?

How much? For a legal matter I wouldn't hazard a guess for $amount.
However, there would likely be significant credibility issues even though the matters happened while others were managing the company.
Another result could be the possibility of further legal challenges against the company.

The plaintiffs would not go to the Supreme Court if they did not feel some confidence in a favourable outcome. It is not something done on a whim.

So while RER/NZC have consistently maintained (over the last 2 years or so) that they have a strong case and will vigorously defend against this action(s) it comes down to how a Judge decides. The outcome won't be known until late this year or early 2019 if the Oct court date is accurate.

An example of a worst case scenario, there are a some, is Western Mining Corporation (whale) Vs Savage River Resources (minnow) where the court's decision gave tenements containing what became the Ernest Henry Mine to Savage.

NZC management have confidence the decision will be in their favour and hopefully it will be in their favour.