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Auction is 8 weeks today - that'll come around quick enough. Am expecting an update from PAT before then, but equally I wouldn't be surprised if the NoA is held back until after the auction, as there will be a definitive value on the prospect by that point.
Must be getting close to some form of news as the squabbles have started! ;-)
For the avoidance of doubt... I said in my previous post that the arbitration panel would convene, rather than conclude. Maybe 'convene' is an incorrect choice of word, but I'm under no illusion about timelines on this - it'll enter the arbitration sausage machine at that point.
This is my 3rd year invested in Panthera. Everyone has their own investment strategy, but hopefully we'll get an uplift on notice of arbitration and the claim amount, at which point I'm going to de-risk.
All the best, Ed
Deck,
My understanding is the same as yours - as soon as Notice of Arbitration is lodged, the panel has to convene within 2 months, importantly outside of India (and Oz too, I think).
GoI is faced with 2 options: settle with PAT out of court, with an amount that is agreeable to all parties, or go to arbitration. If the latter, PAT is in a strong position given it has passed the selection criteria for the unconditional funding on arbitration (something like 90% of applicants fail) and then LCM/Faskens success rate with the cases they take on (90ish%). If the legal experts effectively think they have a 99% chance of success, that's good enough for me.
Surely if the GoI has listed Bhukia for auction, that immediately means that we're either:
a) due an out of court settlement, or
b) this is pretty conclusive grounds to move from Notice of Dispute to Notice of Arbitration
I suspect the latter.
Thanks.
Saturday 2nd March represents 60 calendar days since the notice of dispute was issued. No idea where that sits in international arbitration terms, but it's a fairly standard commercial period where I work. First full week in March for an update?
Tomorrow (20th Feb) marks 7 weeks since the Notice of Dispute was issued. While it would be good to get an update on the status of the case, personally I think it's a few weeks away. Always glad and pleased to be proven wrong in these instances though!
2 encouraging RNS releases last week, but let's be honest - we all know that the market is only interested in updates on Bhukia right now.
Hopeful of an update on/before the end of Q1, but wouldn't be surprised if we get radio silence for the remainder of H1 instead. Hope for the best, plan for the worst, etc.
Https://www.share-talk.com/zak-mir-talks-to-mark-bolton-managing-director-panthera-resources/
A bit of SP movement this afternoon on not a huge amount of volume.
*If* (t&cs apply) the next stage of the arbitration process kicks off 28 days after the issue of the notice of dispute, that's only a week on Tuesday - might be a nice time to get in for those who aren't already...
Interesting response from the AI, best taken with a vat of salt though.
It has been 2 weeks since the letter was submitted. I reckon another 2 to go as a minimum (i.e. "you have 28 days to respond") before we get any further progression on this.