4th Dec 2023 19:52
Ecora Resources PLC - South and North America-focused royalty and streaming company - Announces the Supreme Court of Western Australia, Court of Appeal has upheld the original, favourable in the legal dispute with Quasar Resources Pty Ltd, the owner and operator of the Four Mile uranium mine over which the group has a 1% net smelter return royalty. Following the initial ruling, the group received a settlement payment of around AUD6 million, plus interest, that has been held as deferred income and will be released to the income statement in the fourth quarter. In addition, intends to release a further AUD2.3 million in the fourth quarter relating to accrued royalties, which were subject to the outcome of Quasar's appeal. This does not impact cash balances as these amounts have been received.
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By Jeremy Cutler, Alliance News reporter
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