I kind of agree, a lot of this will come down to the detail of the contract, the nuances of a contract can be huge.
That said the letter of intent wont help the client argument, I do however also think if they had to agree on arbitration why they did, looking at the options for the client it was a delayed court case(when sml could afford) or nothing as the alternatives. I think for them its a delay tactic and gives them a chance to see what an independent ruling would decide.
One minute they need loads of Magnetite, the next none, then possibly more than or equal to the original contract and then none again, WTF?? how can anyone run a business like that?
Im really confused by their actions
I don't think someone that could afford payments upfront and needing as much magnetite as they did, then intending on paying 4 mil upfront and coming back, if challenged couldn't pay a ruling figure, they might not wish to and continue to fight.
I think the ruling if it SML's favour will yield something at some point, but how much % against the ruling and when will be down to JP and his team.
Fair post Tarry, I will add there is a possibility that the arbitration could be delayed, we just dont know if there was anyone caught out of comms or taken ill, it's less than likely but I would still call it out.
I would say a couple of mil in lost earnings and then damages for impact to company/SP and away we go.
They dont seem a small operation with the figures stated on the letter of intent.
Trout, Ok I think I may have hurt your feelings with my effort to explain what DILUTION means, sorry if you have taken offence and feel the need to try and prove you are better than me, but and its a big but (bigger than Kims butt), you cant believe the colours of the sells, so to show you how wide of the mark you are I have taken a big days trade 4/5/20 from your selection, you state, 3.9m buys to 860k sells, its actually more like 1.41m buys to 3.37m sells.
I would honestly like to think your figures are right as it serves me well on my pretty large holding, but they are not, look at the spread and not the colours or the sells/buys "tag".