Re: appeal
in response to
by
posted on
Mar 23, 2015 12:07PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
1. But currently it's CLF decision to file a response to KWG submissions to the Appeal Court (CLF has 60 days after 2 March 2015 to do this).
Noront owns the property now and everything transfers to them, even potential legal liability. Suppose KWG wins the appeal of the appeal. Then Noront has to pay KWG all legal costs for the appeal and don't forget, it goes back to the OMLC and Noront is liable for those costs too.
Noront is already taking KWG to the OMLC over Koper Lake ownership, so expect Noront to continue the CCC easement appeal and Koper Lake appeal against KWG.
If KWG looses the easement appeal, how can they sue Cliffs or Noront for "for causing loss of business opportunities"?
2. The $20M CLF fire-sale deal with NOT: This is just for the land claims (and the deposits) in the RoF. Nothing has been said about 111M KWG shares in CLF subsidiary holdings. Does CLF want to hold this back for paying KWG (for peace)?
I expect Noront and Cliffs are working together against KWG. Cliffs will keep their stranglehold on KWG through those shares while Noront continues it's attempt to bankrupt KWG.
3. I doubt it. Noront will continue to starve KWG, just as Cliffs has done.
Many loose ends to tie up, but probably Noront will not cooperate with KWG.
Loosing the easement appeal and then lossing Cliff's chromite for only $20M?
What was KWG thinking? Where was their "global steel company" and their "large ferrochrome producer"?
We will only know if Frank tells us whats going on a George Agora interview unless anyone can get a response from Bruce.
We haven't even got a clear answer to the question of whether KWG filed it's appeal by the necessary date....