RE: ALL GROK AI: MINING LICENCE Vs LAND RIGHTS SALE29 Apr 2025 15:48
Https://www.investegate.co.uk/announcement/rns/red-rock-resources--rrr/drc-update/6763384
"The Company has obtained an order, Ordonnance No 437/BIL/12/2021 Portant Injonction de Payer (the "Payment Order") from the Commercial Court in Lubumbashi instructing VUP SA, the Company's partner in the joint venture, to pay $2,505,000 as a principal amount to Red Rock"
$2,505,000 being 50.1%% of $5,000,000.
That went to appeal and RRR won. There can be no further appeal. RRR could apply to the Court de Cassation for a further direction called an Arretes.
So RRR has an award for damages and interest. As it has not been paid, then interest continues to accrue. Typical interest on court awards are 3% over some usual benchmark interest rate or a punitive rate, say 8%. I have no idea what interest rate would apply to this award. At 8% simple that would amount to $3.372,732.
RRR obtained a further costs award at a later date.
DYOR