I agree that the idea of $550 million seems rather a lot to expect but by the tone of the judgments it seems fairly certain that we will get all costs plus something for the trouble and loss of opportunity.

This rejection of the appeal sends a clear message to Rusoro and Endeavour that they should stop wasting the court's time and go and make a settlement offer to GRZ. They have to decide between themselves just who pays how much and what GRZ will accept.

If they take it back to court, the judges tend to get rather upset. They made their ruling and now it is obvious that they expect the loser to settle out of court. If Rusoro and Endeavour don't come back with a reasonable offer to GRZ they won't be treated kindly the next time they face the judge. On the other hand if GRZ refuses a reasonable (in the court's view) offer then they come back into court at a disadvantage. All these commercial disputes are expected to be settled by negotiation once the court has ruled. Judges don't like them coming back time after time and the offender will get penalised.

If it comes to a court settlement then any damages are likely to be subject to a "jointly or severally" clause, which means if either of the parties can't or won't pay their share then the other has to come up with the whole amount. These tend to make old friends into enemies quite quickly but they are great for the winner.