RE: Quelle suprise25 Jul 2022 15:55
1. I can't give you information not in the public domain.
2. There are three separate boxes: the awards against VUP given in the commercial court in Lumbumbashi; the $15mil held by Gecamines pending agreement on who gets what; the claim against Glencore.
The court proceedings and court orders in Lumbumbashi established that the three licences were owned by the JV and not by VUP.
What RRR has been trying to sort, is recovery of at least 50.1% of the $15mil held at Gecamines. Gecamines will release the monies pursuant to agreement between VUP and RRR or an order to do so pursuant to an arbitration.
In these type of arbitrations they try to get the various parties to agree, if they don't then an arbitration order is imposed.
You all know the above. It is in the public domain. From VUP's point of view, they were trying to pocket the $20mil (the $5mil paid over already and the $15mil held at Gecamines). It is entirely understandable that VUP will do anything (ANYTHING) and everything it can possibly do to frustrate RRR. They are not going to roll over, lay on their backs and ask to have their tummies tickled whilst handing over a little over $10mil.
We are dealing with some wriggly people.
Soon Rodney, soon.
DYOR