Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC:AGPIF) announced a favourable ruling in its legal dispute with Quasar Resources Pty Ltd, the owner and operator of the Four Mile uranium mine over which Anglo Pacific 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 Anglo Pacific’s royalty entitlement.
On April 13, the Supreme Court of Western Australia ruled in favour of Anglo Pacific’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 companies must now finalise orders to be submitted to the judge by April 22, Anglo Pacific said.