Re: Eskers, Legality of KWG claims, etc.
in response to
by
posted on
May 22, 2014 12:50PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
Great post goldhunter. I just want to clarify a couple of points. Cliff's appeal commencing June 16th, is being heard by the Division Court, usually a panel of 3 judges of the Superior Court of Justice hears most cases. Division Court is a branch of the Superior Court. It is an Appeal Court. It hears appeals and applications for judicial review and has 8 locations including Thunder Bay and Sudbury. I have tried to find out where the Appeal will be held and it does not seem to show up on the Court Docket of either Thunder Bay or Sudbury so I am assuming it will be held at Osgoode Hall,Toronto. Where just one Judge, Judge Lederer, I believe, although I may be spelling his name wrong, gave the approval to the AG's 30 minute presentation, he may be the only judge sitting on this matter, which is also standard procedure. Don't forget, this Ruling was made by the Mining Commissioner, not a judge. The main point I am trying to make is that this Division Court's decision can then be appealed to the Appeal Court which is another whole different process. On another matter, a lot of us are wondering, in light of Cliff's very public financial woes, why would they continue down this appeal process? I personally believe it is a "hail Mary" pass situation where they must win to have any hope of finding a buyer for their ROF holdings. How can they sell their major deposits, Black Thor and Big Daddy, if they have absolutely no access to their holdings? They must win or come to some kind of agreement with KWG or they will be dead in the water, and the $500 million they spent on the ROF, will be useless to Cliffs. Just my take on the situation. The 1.1 million buy @ .075 yesterday afternoon, seemed to scare off some sellers at least this morning with only 56 lots offered at the opening @ .075, although they now seemed to have got their courage back and are now back to the over 1 million offered @ .075. Did some new player swoop in yesterday and pick up that 1.1 million @ .075 while it was dangled and if so, could a new player be watching and waiting for another similar grab? Sure hope so! rj