Plenty to be getting on with here. Valuation looks all wrong |
Poland putting up a fight. |
Talk to us please management time for an update since the 28 days have passedCan anyone help me Will the compensation monies be split between holders of both UK shares and Australian shares ? |
28 days to request the set aside of the BIT award of £252m runs out on Monday 4th Nov. |
Donald Tusk Premier of Poland yesterday.
"Avoiding Poland from paying compensation resulting from the arbitral tribunal's verdict in the case $GREENX Metals seems unlikely, legal analyses will be known this week, Prime Minister Donald Tusk announced. $GRX serwis Money
The case is quite hopeless, because a lost arbitration is a lost arbitration" - he replied today @donaldtusk asked by @BartSaw about the case #GREENX $GRX at the press conference after the meeting of the Council of Ministers.
x.com/MMichalek91/status/1851290042813362320 |
Should see a nice rise today |
Thats quite a bit more. Maybe (6 x US$2.8m) + (4 x US$8.5m) at a guess, as it has not reached year 5, should still leave about £200m. |
That is the cost only. LCM take a rising multiple of their Investment in the win case, based on their cost. The final figure is similar to what other posters have already pointed out and has just been corroborated by the LIT RNS. |
2020 news release regarding costs when they were called Prairie Mining.
wcsecure.weblink.com.au/pdf/PDZ/02250282.pdf 2020 news release.
All of GreenX's costs associated with the arbitration were funded on a non-recourse basis from specialist arbitration funder LCM (please refer to the Company's announcement dated 1 July 2020 entitled A$18m Litigation Funding to Pursue Damages Claim Against The Polish Government).
The substantial litigation funding secured from LCM is testament to the strength of Prairie’s claims.
The A$18m facility is non-dilutive to Prairie shareholders, will cover the full legal budget
A$18m is about £9m. |
Serious question.
This might do another 30pct depending on tax.
Why not go into pat.l which is at 12m gbp and has chance to go where greenx is today.
Just saying the real trading opportunity IMO is not here today |
From the RNS verbatim the Claimant is not entitled to double compensation i.e., any amount paid by Poland in one arbitration (i.e., BIT) is set off against Poland's liability in the other arbitration (i.e., ECT). |
Agree. It is a max function and 252 was the larger claim. I am writing to the company to ask about tax. I suppose it depends if claim was based on profits net of tax or not.
Check out pat.l, I have a position and they will announce the claim soon.
One of the few known lit.l cases |
No double compensation , 252m total |
It does say " both awards " in the RNS |
No 252m total of which they have to pay 40-50m to litigation finance . So about 70p share , not sure about tax liability . There are some other assets but maybe not worth much ... |
Congrats.
Guys. The same setup is being repeated on pat.l.
The are in mining, using BIT to sue and their claim will be around 1 billion same as here. The are also sponsored by lit.l
Current market cap is 12m gbp, so if you want to do this again or get in on start of trend ask me questions on pat.l board |
415 million |
Am I right in thinking £415 in total Both claims added together ? |
Why the muted reaction it is more than 3 x the current market cap ? |
About time |
bloody 'ell |
Even if they just get 1/4 of the cash that's more than mcap. |
And how much of the current market cap is attributable to the Greenland assets I just realised I have around 12500 shares bought a few years ago that I thought were worthless in a Sipp I have not logged into for 4 years. |
Just how much of this 737m gbp do you think they will be awarded ?Certainly some but that's a hell of a lot of money |
Any opinions on the likely date of the award ? |
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