Anglo Pacific Group PLC (the “Group” or “Anglo Pacific”) (LSE: APF, TSX: APY) is pleased to announce a favourable judgment with respect to its legal dispute with Quasar Resources Pty Ltd (“Quasar”), the owner and operator of the Four Mile uranium mine (“Mine”) over which the Group has a 1% net smelter return royalty.
Anglo Pacific and Quasar have been engaged in a legal dispute since 2016 over the level of allocable charges being applied to calculate net smelter return revenue subject to the Group’s royalty entitlement. On 13 April 2022, the Supreme Court of Western Australia ruled in favour of the Group’s position that none of the costs incurred at the Mine or at the Beverley plant, where the mineral products are processed into a concentrate, should be applied as permitted allocable charges.
The parties must now finalise orders to be submitted to the judge by 22 April 2022. The Group will make a further announcement after such date detailing amounts owed to the Group from Quasar and the future application of the royalty. Quasar have 21 days from the date the final orders are made by the judge to appeal the decision.