Anglo Pacific Group PLC Favourable Four Mile Legal Dispute Ruling (5044I)
April 19 2022 - 2:01AM
UK Regulatory
TIDMAPF
RNS Number : 5044I
Anglo Pacific Group PLC
19 April 2022
News Release
19 April 2022
Anglo Pacific Group PLC
Favourable Four Mile Legal Dispute Ruling
Anglo Pacific Group PLC (the "Group" or "Anglo Pacific") (LSE:
APF, TSX: APY) is pleased to announce a favourable judgment with
respect to its legal dispute with Quasar Resources Pty Ltd
("Quasar"), the owner and operator of the Four Mile uranium mine
("Mine") over which the Group has a 1% net smelter return
royalty.
Anglo Pacific and Quasar have been engaged in a legal dispute
since 2016 over the level of allocable charges being applied to
calculate net smelter return revenue subject to the Group's royalty
entitlement. On 13 April 2022, the Supreme Court of Western
Australia ruled in favour of the Group's position that none of the
costs incurred at the Mine or at the Beverley plant, where the
mineral products are processed into a concentrate, should be
applied as permitted allocable charges.
The parties must now finalise orders to be submitted to the
judge by 22 April 2022. The Group will make a further announcement
after such date detailing amounts owed to the Group from Quasar and
the future application of the royalty. Quasar have 21 days from the
date the final orders are made by the judge to appeal the
decision.
For further information:
Anglo Pacific Group PLC +44 (0) 20 3435 7400
Marc Lafleche - Chief Executive Officer
Kevin Flynn - Chief Financial Officer
Website: www.anglopacificgroup.com
Berenberg +44 (0) 20 3207 7800
Matthew Armitt / Jennifer Lee / Detlir Elezi
Peel Hunt LLP +44 (0) 20 7418 8900
Ross Allister / Alexander Allen / David McKeown
RBC Capital Markets +44 (0) 20 7653 4000
Farid Dadashev / Marcus Jackson / Jamil Miah
Capital Market Communications Limited (Camarco) +44 (0)20 3757 4997
Gordon Poole / Owen Roberts / Charlotte Hollinshead
Notes to Editors
About the Group
Anglo Pacific Group PLC is a global natural resources royalty
and streaming company. The Group's strategy is to become a leading
natural resources company through investing in high quality
projects in preferred jurisdictions with trusted counterparties,
underpinned by strong ESG principles. It is a continuing policy of
the Group to pay a substantial portion of these royalties and
streams to shareholders as dividends.
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