Industry news: Gold $2,317 & Lithium: "China unleashes EV demand bazooka 0% down payment for personal cars.."-4.4.244 Apr 2024 01:10
[1] "GOLD: $2,317." -Katusa Research, 4.4.24 https://twitter.com/MarinKatusa/status/1775599573328699421 4 hrs ago.
Relevance: RRR Bilbale gold project and other gold projects inc RRR Kenya 1.2moz JORC [licence being renewed] & potential RRR Australia [Victoria next door to Sunday Creek] IPO, sale, JV or part sale.
[2] "LITHIUM: EV Bazooka: China unleashes EV demand bazooka with a 0% latest auto loan policy for personal cars."-4.4.24. https://twitter.com/8lusky/status/17754682649925001904
Relevance: RRR Zimbabwe is about lithium. So the China news as above has relevance for lithium demand.
[3] RRR DRC LITIGATION @Award Arbitration and INTERNATIONAL ARBITRATION potentially. Ref: RRR 28.3.24 RNS @1/2 yr a/cs. Helpful will be interested in our RRR 's Consultant's former project @Sonora lithium Mexico. GANFENG has just released their results and they mention the MEXICAN litigation matter: "\Pg35/126: As of the date of approval of FINANCIAL statements, the ANNULMENT CLAIMS ARE STILL IN PROGRESS. Based on the OPINION OF LEGAL COUNSEL, and the PROGRESS OF LITIGATION, the Co believes the CANCELLATION of 9 lithium mine concessions is NOT FINAL until TFJA makes its FINAL DECISION. -------------Also, the LEGAL COUNSELS are of the OPINION that the ARGUMENTS raised by the MEXICAN SUBSIDIARIES (((SUBSTANTIATED BY LAW, ANALOGOUS PRECEDENT and FACTUAL EVIDENCE)) ----COULD ALLOW THEM-----TO P R E V A I L before a NEUTRAL COURT, however the Counsels are unable to predict the outcome of the annulment claims. As there are many uncertainties in the trial of the case, the Group is unable to RELIABLY estimate the possible outcome and impact of the proceedings. Therefore, as at 31.12.23, with reference to the provisions of IAS 37 provisions, CONTINGENT ASSETS & LIABILITIES, the Group did NOT make any provision for the PENDING LEGAL CASES." "Events after the reporting date. As stated in note 13, the Mexican subsidiaries filed the annulment claims with TFJA in Ja n 2024 against the cancellation of 9 lithium concessions." With thanks and attribution to Bannor of KDNC for the link and info.
Comment: Firstly, I am posting about litigation to show the following: [1] Ganfeng has NOT even got off the 1st base as it has to go through legal counsels [plural]. [2] Claims are "STILL IN PROGRESS" just like what RRR said "guidance has NOT changed" per AB on Twitter re: RRR litigation in DRC Award. So, takes TIME. [3] Pending legal cases [note plural which means not just 1 case to potentially come]. [4] Legal language can NEVER SAY "WILL" BUT RATHER "COULD" as norm. [5] Substantiated by law. DRC wants it substantiated by CONGO LAW and RRR said their "rights" have been "established under Congo law." [6] Precedent is of importance. [7} FACTUAL EVIDENCE, not views out of nowhere but proof/factual/evidence. [8] NO COURT PAPERS ARE submitted in the RNS of Financials. Same for RRR. [9] Lastly, I am posting to show what RRR stated in the RRR RNS